On Wednesday, the Federal Government awarded the sum of N47 million to 32 innovators in the country through the Presidential Standing Committee on Innovations and Inventions (PSCII) programme.
The Presidential Standing Committee Innovations and Inventions (PSCII) was set up by the Federal Government and was inaugurated in October 2005, to encourage and promote inventions and innovations, especially in the informal sector of the economy.
The Deputy Director, overseeing the Department of Technology Acquisition and Adaptation (TAA) at the Ministry of Innovation, Science and Technology while speaking at the grants presentation event in Abuja, said the grants ranged from one to N5 million to each beneficiary.
According to her, the programme was to encourage Nigerians especially those in the informal sector who have viable technological ideas, capable of impacting positively on the populace and economy.
So far, no fewer than 600 innovators and inventors across the six geo-political zones have benefitted from its grants since inception of the PSCII programme in 2005.
The Minister noted that all the support being offered by the PSCII to Inventors and Innovators are guided by the operational guidelines and Terms of Reference (ToR).
“The Ministry is making efforts to improve the budgetary allocation for the PSCII.
“Also, collaborations with relevant stakeholders such as the Tertiary Education Trust Fund, (TetFund), Petroleum Technology Development Fund (PTDF), National Universities Commission (NUC), National Board for Technical Education (NBTE), Raw Materials Research and Development Council (RMRDC), the National Planning Commission, e.t.c., is facilitating the achievement of the ultimate goal of the PSCII Programme by providing a solid foundation for a technological break-through in the country, as well as improving the socio-economic well-being of Nigerians.”
The Minister said the federal government is also leveraging collaboration with the organised private sector to facilitate the achievement of the desired goal of the program through the provision of a solid foundation for technological breakthroughs as well as improving the socio-economic development of Nigeria.
This is most likely to bring about global competitiveness that would contribute to job and wealth creation, improved well-being, and quality of lives of Nigerians.
Beneficiaries were urged to utilise the grants judiciously, encouraging them to work hard in order to surmount the challenges of unemployment and poverty in the country.
