Business
Tech Expo: Exhibitor Wants Collaboration With Institutes
The Manager, S. Adiss Agricultural Engineering Ltd., Mr James Adeleye has advocated that government research institutions should partner with the upcoming companies to enhance their productivity.
Adeleye made the call in an interview with newsmen at the ongoing Technology and Innovation Expo 2017 in Abuja, Thursday.
He advised that the government should enact a law to make investors to use 40 to 50 per cent locally made machines and other research products in the country.
Adeleye said that such law would go a long way to help both the government and private sector to improve locally made products.
He explained that his participation in the expo was to create awareness on the capability of the company.
He said that the company designs, fabricates and installs high precision machines for livestock, brewery, flour making, cassava processing and other agro-allied industries.
Adeleye said that the company had been working in partnership with the Institute of Agricultural Research and Training, Ibadan to produce the products. .
“Before we started the partnership with the institution, we were not perfect with the melon shelling machine, we could only achieve 40 per cent of what we needed.
“At times, the machine may not even work but when the institution came, it gave us the materials and ideas and now we can achieve up to 70 per cent for the machine and many others,” he said.
According to him, the bulk of the work is on the government, the private sector can only do little.
He said that the government could patronise the private sector or even fund them.
Mr Nkworka Chuks, the Managing Director, Jacey-jon Engineering Ltd., said the expo was a good concept but might not achieve its objective.
Chuks said that the objective of the expo should be to promote research and development activities and encourage Nigerians to take up science professions.
According to him, others are to encourage and promote creation of innovative enterprises utilising Nigeria’s indigenous knowledge and technology to produce marketable goods and services.
Chuks, however, called on the government to make the process of accessing funds easy to encourage technological innovations by individuals and groups.
He said that at the expo, all government officials did was just to congratulate them without any concrete promise to assist any of them, especially the younger inventors from secondary schools.
He lamented the way governments at all levels paid little or no attention to youthful creations and innovations.
Chucks called on research institutions to identify the youths that are interested in research and innovations.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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