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‘Nigeria must invest in science to fast-track development’

By Adelowo Adebumiti
24 November 2021   |   3:07 am
The Chairman, Finlab Nigeria Limited, Uzomba Nwajie, has called for more investments in the science and technology sector to fast-track the growth of the economy.


The Chairman, Finlab Nigeria Limited, Uzomba Nwajie, has called for more investments in the science and technology sector to fast-track the growth of the economy.

Nwajie said by deploying more capital to developing the science and technology sector, the country could sustain growth in other sectors.

He made the call at the firm’s 40th anniversary celebration held in Lagos with the theme ‘Finlab, Science and National Development.’

Speaking at the occasion, Nwajie said: “Advanced countries always use science as the foundation of their economy because it guarantees growth. I have known for a long time that the only way Nigeria can grow is through a commitment to learning and the application of science and technology. People in power build houses on sand and that is why it collapses. The best way forward is to embrace science and in ten years, this country will change for the better.

“We also have to look at the education sector, a situation where pupils are learning without the necessary equipment is bad. There is the need to revive our educational system, our teachers’ need to be more committed and encouraged more than ever. A situation where teachers are not given the proper recognition is a bad thing. With good scientific education, technological education will grow naturally. Agriculture, infrastructure and other sectors will grow.”

Managing Director, Uzo Nwaije Jr, advised startups to look for the right reason to start their businesses, stressing that this would develop the business with time.

He said: “For startups, the first thing I will advise is to ignore the money factor in business but to look at the growth plan. A lot of people who start businesses start it for the wrong reason. People start businesses to make money or attain a certain class, this is completely false. You must first identify a gap that you intend to bridge with your business. For people starting a business, the ultimate idea is to start the business for something bigger than yourself.”