The Minister of Innovation, Science and Technology, Dr Kingsley Udeh (SAN), said part of the efforts to achieve the targeted $1 trillion GDP could come through mobilisation of innovation, science and technology by making the economy knowledge-based.

The Minister said that this was what informed President Bola Tinubu to send a Bill to the National Assembly for creation a National Research and Innovation Development Fund, as well as proposed amendment to the Establishment Act of the Raw Materials Research and Development Council (RMRDC) for the introduction of 30% minimum value-added to the nation’s raw materials before export.

Udeh said this while responding to question during an interaction with newsmen on the forthcoming Africa Raw Materials Summit (ARMS) on how the country would use indigenous technology to process raw materials and adding 30% minimum value. The ARMS is due to hold in Abuja from October 19 to 20, 2026.

He said the President supports energy, research and innovation commercialisation through which industries and jobs can be created for the teaming unemployed youths to improve livelihood.

“No country would go into the League of Advanced Nations if the country does not take innovation science and technology seriously. The foundation of advancement is innovation science and technology. If you are dependent, if you are not yet free or independent as it relates to technology science and innovation, you can’t actually be independent politically and economically.

“Mr President, also recognises that, and that’s why he sits as the chairman of the Nigerian Science, Technology, and Innovation Council because of the importance he attaches to science, technology, and innovation.

“Because if we are to move from where we are in terms of economy to the targeted US$1 trillion GDP, then we have to mobiliee our science, technology, and innovation to make it work. Because it must be a knowledge-based economy”, the Minister said.

He stressed the need to return President Tinubu for a second term to complete his reforms, adding that reform takes time to take effect.

Udeh said the country would develop indigenous technology to process raw materials and also encourage transfer of technology.