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Nigeria needs technopreneurship for rapid development, says don

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Advocates 40% allocation to education, health sectors

Professor of Development Economics at the Nigerian Institute of Social and Economic Research (NISER), Ibadan, Oyo State, John Adeoti, has urged Nigerians to embrace technopreneurship to catch up with the realities of the 21st century.

While delivering the 31st convocation lecture of the Federal University of Technology Akure (FUTA), entitled ‘Technopreneurship and National Development’, he canvassed the leveraging of the new realities on the health and education sectors, where he noted huge decay, to breed the human capital needed for viable technopreneurship.His words, “Technopreneurs are at the centre of digital revolution, and Nigeria should boldly and massively invest in information technology (IT) infrastructure to improve internet broadband access and provide state-of-the-art facilities for training her youths in IT skills.”

Adeoti, who is from NISER’s Department of Economic Policy Research, described technopreneurship as a relatively new business word coined from technology and entrepreneurship; meaning a technology-based entrepreneurship.He lamented that the country’s economy was at great risk considering the population projection by year 2050, stressing the need for technopreneurs to catalyse the nation’s development in all facets.

“The role of technopreneurship in national development and economic competitiveness has been established. Modern competitive economies are knowledge-based and innovation-driven.

“Technopreneurship can, therefore, be a platform for policy-makers to forge a Nigerian economy that is knowledge-based and innovation-driven. In the course of problem solving, new businesses are created and existing ones are made stronger and competitive,” he said.

The don advised that economic and innovation policies should take advantage of the emergent digital economy globally by creating enabling environment for technopreneurs to thrive.He urged the Federal Government to declare emergency on the education sector, to revamp it for the much-needed human capital development in the public sector.The expert applauded FUTA management for keying into the 21st century demands by creating a technology hub on campus.

“A state of emergency should be declared in these two sectors and the National Assembly should support the declaration. The education and health sectors should accordingly be allocated at least 40 per cent of national budget in the next eight years.

“Special grants in support of the education and health sectors should be made by the Federal Government.” He also implored the new graduates and other youths to brace up for the emerging realities as technopreneurs by launching out to technology hubs where they could interact with peers and be exposed to appropriate mentorship.


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