FG, Firms Sign Pact On Products Commercialisation

The Federal Government has in Abuja signed a Memorandum of Understanding (MoU) with three companies to commercialise indigenous food products.
Minister of Science and Technology, Dr Ogbonnaya Onu said the effort was in a bid to enhance the nation’s Gross Domestic product (GDP) and close technological gaps in industries.
He listed the three companies that involved in the MoU as Tiger Foods Limited, Lensof Konsult and Lashone Links Communications Limited.
According to him, the MoU is to guide the companies on commercialisation indigenous research and development breakthroughs on food seasonings and ready to use traditional soups.
He said the MoU would also guide publicity and creation of awareness for the promotion and utilisation of indigenous research and development breakthroughs.
“The commitment of the present administration is to strengthen the economy through promotion of innovative technologies that will reduce import dependence, enhance local content and strengthen self-sufficiency”, he said.
The minister assured the three companies of the ministry’s support.
In her remarks, FIIRO Director-General, Prof. Gloria Elemo, said that the institute was committed to ensuring effective commercialisation of indigenous research and development, in a bid to bail the nation out of the economic recession.