By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Herald Today
  • More
Reading: Pathway to Nigeria’s industrial economy
Share
Notification
Donate
  • Local Church News
    Local Church NewsShow More
    Vatican Secretary of State Cardinal Pietro Parolin talks to EWTN Vatican correspondent Colm Flynn on March 19, 2022.
    Cardinal Parolin Says Nigeria’s Conflict Is ‘Social,’ Not Religious, Prompting Pushback| National Catholic Register
    18 hours ago
    Some black lives do not matter: Black Christians slaughtered in Nigeria, no one cares
    Some black lives do not matter: Black Christians slaughtered in Nigeria, no one cares
    1 day ago
    Living-Waters-Unlimited-Church
    ‘Church’s silence fuelling national corruption, insecurity’
    1 day ago
    Living-Waters-Unlimited-Church
    Cleric laments spiritual weakness of Nigerian Church, calls for repentance
    2 days ago
    'Christian genocide' or a crisis of narratives? – DW – 10/20/2025
    ‘Christian genocide’ or a crisis of narratives? – DW – 10/20/2025
    2 days ago
  • World Christian News
    World Christian NewsShow More
    Former WEA head sounds alarm over declining global Christian engagement in defending persecuted believers
    Former WEA head sounds alarm over declining global Christian engagement in defending persecuted believers
    1 hour ago
    Spike in anti-Christian hate crimes in Europe are underreported
    Spike in anti-Christian hate crimes in Europe are underreported
    6 hours ago
    Americans with a positive view of religion are on the rise: Pew
    Americans with a positive view of religion are on the rise: Pew
    7 hours ago
    Bolivian president-elect thanks God after election victory
    Bolivian president-elect thanks God after election victory
    7 hours ago
    Why we cannot 'agree to disagree' with the Left
    Why we cannot ‘agree to disagree’ with the Left
    7 hours ago
  • Business
    BusinessShow More
  • Health
    HealthShow More
    CHOCOLATE CHIP BANANA BREAD with cottage cheese (healthy recipe!)
    5 days ago
    ONE-PAN BAKED CHICKEN and POTATOES | Healthy + Easy Meal Prep Recipe
    2 weeks ago
    SAY NO! TO HEBREW WOMEN DELIVERY!
    3 weeks ago
    The Tiny Mindset Shift That Changed My Health (& Weight!)
    3 weeks ago
    COTTAGE CHEESE FRITTATA with Veggies (Healthy Breakfast Idea!)
    3 weeks ago
  • Technology
    TechnologyShow More
    Image for the large product module
    A two-pack of Blink Mini 2 cameras is 60 percent off right now
    6 minutes ago
    Nigeria and Denmark Forge Tech Partnership For Digital Transformation
    Nigeria and Denmark Forge Tech Partnership For Digital Transformation
    23 minutes ago
    LG, Ecobank ride on Nigeria’s $2.6bn BNPL growth to expand access to AI smart living
    39 minutes ago
    Civic Tech Innovation Challenge
    Civic Tech Innovation Challenge 2025 Seeks Youth-Led Governance Solutions in Nigeria
    55 minutes ago
    Tesla's profits plunge despite record revenue and deliveries
    Tesla’s profits plunge despite record revenue and deliveries
    1 hour ago
  • Features
    • Church Events
    • Gospel Music
    • Impact Word
    • Sermons
    FeaturesShow More
    Rev. Tony Ogugu: Exemplifying Leadership Through Service and Impact
    1 week ago
    Prophesy Is Fulfilling
    7 months ago
    PFN DELTA STATE INAUGURATES NEW EXECUTIVES
    1 year ago
    Religious Shift in Iran: Mass Mosque Closures as Iranians Turn to Christianity
    1 year ago
    PFN SECRETARIAT BUILDING COMPLETED AFTER 30 YEARS – HERALDTODAY
    1 year ago
Reading: Pathway to Nigeria’s industrial economy
Share
Herald TodayHerald Today
Font ResizerAa
Search
  • Business
  • Features
    • Church Events
    • Gospel Music
    • Impact Word
    • Sermons
  • Health
  • Local Church News
  • Technology
  • World Christian News
  • Quick Access
    • About
    • Privacy Policy
Have an existing account? Sign In
Follow US
  • Business
  • Features
  • Health
  • Local Church News
  • Technology
  • World Christian News
  • Quick Access
© 2024 | Herald Today
Herald Today > Blog > Technology > Pathway to Nigeria’s industrial economy
Technology

Pathway to Nigeria’s industrial economy

heraldtoday
Last updated: 2024/05/30 at 1:58 AM
heraldtoday 1 year ago
Share
Pathway to Nigeria’s industrial economy
SHARE


Nigeria cannot have real development without sustainable industrial growth and manufacturing capacity, which is the solution to poverty, unemployment and insecurity. No doubt, having an industrial production base and a competitive industrial economy is the only remedy to Nigeria’s current dependence on the importation of goods, technologies and services.

An industrial economy is the predominant use of machines, equipment or technologies in industry and all business concerns, combined with other factors of innovation, production, facilities, supplies, work and knowledge to produce material goods or services intended for the market.

The complex and functional nature of infrastructure and investments in science, technology and innovation systems put in place by a nation to drive its industrial production and manufacturing techniques determines the relative presence or lack of apparent competitiveness in the production of processed and manufactured goods connected between industrial activity and the activity in the primary sector, local or international trade and service activity.

When a nation lacks significantly the above underlying factors for economic efficiency, then its lot is underdevelopment with all the attendant deplorable human social and economic conditions. Countries like Japan and China which initially were not among the nations that experienced the first and second industrial revolutions had rapidly advanced to join the league of industrialised nations of the West because those nations over time deliberately invested in research and development, innovation, science and technology sector. The newcomers to the global industrial arena called Asian Tigers: Malaysia, Singapore, Thailand and others also uncovered the same secret of huge investments in science and innovation.

Africa’s lack of earlier hard-industrialisation push has led to its apparent downward economic trends. Looking at the continent’s record of human development index, poverty, unemployment, worsening health indications, diseases and low life expectancy have become the lots of most Africans. Science and technology, engineering research and innovation are the essential bedrock for any meaningful industrialisation endeavour to take place.  The implication for Nigeria is that if engineering, science, technology and innovation are not given due priority, any success expected to be achieved will be short-lived or unsustainable.

Countries like Japan, the United States, China, Germany, Indonesia others have over time gained reputations as “economic giants” due to the priority which their leaders gave to research and development (earmarking between five and six per cent of their GDP for the development of science, technology and innovation sector). Investment in STI is a core factor of development and therein lies the secret of advanced nations’ leadership, pursuit and commitment.

The founding fathers of the National Agency for Science and Engineering Infrastructure in 1992 established the agency with the aim of establishing and nurturing an appropriate and dynamic science and engineering infrastructure base for achieving home-initiated and home-sustained industrialisation process through the development of relevant processes to guarantee job creation, economic well-being and progress.

Previous R&D efforts and other activities within NASENI’s mandate areas have translated into various technology interventions, leading to the attainment of capacities and capabilities in local mass production of capital goods, tools and equipment in the critical sectors of the economy like agriculture, power, water resources, automotive industry, ICT, health, aviation, education, transportation, scientific equipment and manufacturing, chemical and other engineering materials. The list is endless. The resources in NASENI, if properly put to use by now, should guarantee Nigeria’s self-reliance and industrial development.

NASENI strategically was established to produce relevant technologies, including setting up industrial plants and stimulating knowledge-based entrepreneurship for the indigenous socio-economic advancement of the country.  Its major challenge in the past was the lack of patronage of its products and technologies by local entrepreneurs or businesses.

But with the coming on board of a new chief executive, there has been a dramatic change of focus toward the full commercialisation of NASENI’s resources by making its R&D products, machines and other equipment to boost the economy available in the market or to end users. NASENI today stands as a beacon of indigenous technological advancement, aligning with its core mission of fostering the needed dynamic science and engineering infrastructure for national progress.

According to recent statistics by the National Bureau of Statistics, Nigeria’s investment in science and technology has led to significant growth in sectors like telecommunications, IT, and e-commerce, contributing around 10-15 per cent to GDP. However, compared to other developed nations whose economic growth is dependent on STI, Nigeria is still lagging. China’s investment in STI contributes between 30 and 40 per cent to its GDP; the United Kingdom’s investment contributes between 20 and 25 per cent; the United States’ investment contributes between 30 and 40 per cent to its GDP while Indonesia’s STI contributes between 10 and 15 per cent.

The lasting solution to our country’s economic dilemma now is for us to turn determinedly toward a continuous investment in science, technology and innovations as we journey toward industrialisation, and regarding this particular endeavour for Nigeria, NASENI is in the driver’s seat.

  • Ayeoyenikan writes from the National Agency for Science and Engineering Infrastructure



Source link

Related

You Might Also Like

A two-pack of Blink Mini 2 cameras is 60 percent off right now

Nigeria and Denmark Forge Tech Partnership For Digital Transformation

LG, Ecobank ride on Nigeria’s $2.6bn BNPL growth to expand access to AI smart living

Civic Tech Innovation Challenge 2025 Seeks Youth-Led Governance Solutions in Nigeria

Tesla’s profits plunge despite record revenue and deliveries

heraldtoday May 30, 2024 May 30, 2024
Share This Article
Facebook Twitter Email Print
Previous Article Nigeria needs moral leaders, patriots to function as a nation – Rev. Kasali Nigeria needs moral leaders, patriots to function as a nation – Rev. Kasali
Next Article Tackling Educational Crisis In Northern Nigeria Tackling Educational Crisis In Northern Nigeria
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Social Medias
Facebook Twitter Youtube Instagram

Weekly Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Popular News
Sermons

USA APOSTOLIC INVASION || THE MARCHING ORDERS || DR. AROME OSAYI || DAY 2 EVENING || 23-08-25

heraldtoday By heraldtoday 2 months ago
Top 20 Lucrative Home Business Ideas For Ladies, Housewives In Nigeria – NaijaGists.com
KILLING DEATH ( 2018 LATEST MOUNT ZION MOVIE starring Dammy and Joshua Mike-Bamiloye)
International Women’s Day: Huawei Nigeria celebrates outstanding female tech talents 
Why Abuse is rampant in our days, what’s the Solution?|| True Talk with Samuel Adebowale|| S05E15
- Advertisement -
Ad imageAd image

Confirmed

0

Death

0

More Information:Covid-19 Statistics
Home
Herald Today

“Get yourself up on a high mountain, O Zion, bearer of good news, Lift up your voice mightily, O Jerusalem, bearer of good news; Lift it up, do not fear. Say to the cities of Judah, Here is your God!” Isaiah 40:9. 

  • Categories:
  • Sermons
  • World Christian News
  • Technology
  • Uncategorized
  • Local Church News
  • Health
  • Gospel Music
  • Impact Word
  • Church Events
  • weapons of our warfare

Quick Links

  • About
  • Become A Smartphone Manufacturer
  • Blog
  • Business Home 5
  • Contact
  • Customize Interests
  • Disclaimer
  • Home Business
  • My Bookmarks
  • Privacy Policy
  • SHARE YOUR STORY TO THE WORLD FOR FREE

About US

  • About
  • Contact
  • Privacy Policy
  • Disclaimer

© 2024 | Herald Today

Herald TodayHerald Today
Follow US
© 2024 | Herald Today
  • About
  • Contact
  • Privacy Policy
  • Disclaimer
Welcome Back!

Sign in to your account

Lost your password?