UNIDO harps on innovation policy to drive industrialisation

The United Nations Industrial Development Organization (UNIDO) has said that Nigeria needs to set up a clear policy on innovation and develop a national system for it in order to achieve inclusive and sustainable industrial development.

UNIDO Representative to ECOWAS and Regional Director, Nigeria Regional Office Hub, Jean Bakole, during his presentation on “Nigeria Industrial Revolution Plan : The Role of Innovation”, at the 2017 Lagos Chamber of Commerce and Industry (LCCI) Investment Conference, in Lagos, harped on the need to bring innovation and creativity into each of the enablers.

According to Bakole, “The innovation policy will help to remove all forms of barriers and bottlenecks hindering innovation and creativity in the country. In view of the link between the market and innovation, the policy will also free the market and promote its development through creation of attractive incentives for entrepreneurs to innovate.

He added that the national systems of innovation have to be instituted and appropriately funded.“Innovation systems stress that it is not only inputs such as patents that are important. Equally crucial is the interaction between the actors that are needed in order to turn an idea into a process, product or service for the market.

“In other words, the flow of technology and information among people, enterprises and institutions is the key to an innovative process when their interaction are capitalised by the policy decision makers at local and country levels”, he added.

While commending the government for its on-going reforms aimed at improving the country’s business climate, the UNIDO representative reaffirmed the Organization’s commitment towards supporting Nigeria’s industrialization drive.

He said, “The Presidential Enabling Business Environment Council (PEBEC) is making a lot of progress by introducing and implementing some result-oriented reforms aimed at further improving the business climate in Nigeria.but more work needs to be done in this regard.

“As the specialized agency of the United Nations that promotes industrial development for poverty reduction, inclusive globalization and environmental sustainability, UNIDO will continue to support the Nigerian Government in its on-going efforts to diversify the economy through Inclusive and Sustainable Industrial Development (ISID)”.