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FG’ll save N3.6trn in import reduction  –Onu

FG’ll save N3.6trn in import reduction  –Onu

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Tony John, Port Harcourt

Minister of Science and Technology, Dr. Ogbonnaya Onu, has said the Federal Government will save a whopping N3.6 trillion in three years with a reduction of the importation of goods and services into the country.

He also disclosed that about 4.4 million jobs would be created from the implementation of the policy.

He spoke yesterday in Port Harcourt at the 32nd University of Port Harcourt Convocation lecture titled, “Science and Technology as a Driver of Economic Recovery and Growth Plan of a Nation”.

The Minister noted that the efforts made in the past to industrialise the country did not yield any positive result,  adding that if the Federal Government is able to revamp both the leather and textile industry, that would go a long way to improving the economy.

He said that no nation will become great without effectively utilising science and technology since the  economic development of any country depends on the effective and efficient utilisation of its natural resources.  Onu further said that the acquisition of science and technology with continuous innovation should be vigorously pursued by every nation particularly in the institution of learning.

He said: “We believe that we cannot allow our economy to depend on importation. Nigeria stands to save N3.6 trillion if we reduce importation of goods and services for three years as an estimated  4.4 million jobs will be created. All efforts made in the past to industrialise the nation have not yielded any result. I believe that if we are able to revamp the leather and textile industries, it will go a long way to growing the economy.

The post FG’ll save N3.6trn in import reduction  –Onu appeared first on The Sun Nigeria.

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