President Muhammadu Buhari, yesterday, restated the willingness of the Federal Government to allocate minimum of 0.5 per cent of Nigeria’s Gross Domestic Product (GDP) to research and innovation for accelerated development nationwide.

He spoke while declaring open the five-day Science, Technology and Innovation Expo 2023, organised by the Federal Ministry of Science and Technology in Abuja.

Theme for the exhibition is: “Actualising Effective Diversification of the Nigerian Economy Through Science, Technology and Innovation (STI).”

Recall that in 2021, at the fifth edition of the science expo, the President made same pledge to Nigerians.

Two years after, the Nigerian leader returned to Eagle Square Venue of the event to repeat the promise.

However, this time, Buhari said efforts were ongoing to actualise “this through our communication to the National Economic Council to come up with modalities in achieving this noble intention of government.”

Represented by his Chief of Staff, Prof. Ibrahim Gambari, the President stated: “Recall that in my speech at the fifth edition of the Science, Technology and Innovation Expo 2021, I said that in tandem with the decision of the African Union Executive Council in 2006, we want to reiterate that having come to terms with the challenges of this critical sector of the economy, we will henceforth dedicate 0.5 per cent of our GDP to Research and Development (R&D) to fast track meaningful development.

“I would like to inform you that we have made effort in actualising this through our communication to the National Economic Council to come up with modalities in achieving this noble intention of government.”

He explained that his administration, in the past few years, had made budgetary allocations to the sector and adopted measures that have boosted research and innovation.