Tech transfer: Foreign firms to get FG’s conditional incentives

The federal government said it will give incentives to foreign firms willing to open in Nigeria, provided they are willing to transfer tech knowledge to Nigerians. The Minister of Science and Technology, Dr Ogbonnaya Onu, said this, Friday, when the Ambassador of Ireland to Nigeria, Mr Sean Hoy, paid a working visit to him in […]

The federal government said it will give incentives to foreign firms willing to open in Nigeria, provided they are willing to transfer tech knowledge to Nigerians.
The Minister of Science and Technology, Dr Ogbonnaya Onu, said this, Friday, when the Ambassador of Ireland to Nigeria, Mr Sean Hoy, paid a working visit to him in his office in Abuja.
He said that the ministry has developed a technology transfer development initiative whereby it would give incentives to any company or firm that comes into the country and allows technology to be transferred to Nigerians.
He said: “We have a programme developed by the ministry: technology transfer development initiative, whereby we will give incentives to any company or firm that comes into the country and allows technology to be transferred to Nigerians. The ministry is working with other ministries like industry, trade and investments and finance on this to make sure that we give tangible incentives(provided they are willing to share their technology with us) to encourage companies to come in set up and transfer technology to Nigerians.”
Onu told the ambassador that the administration of President Muhammad Buhari was poised to create jobs and grow the economy, in addition to securing the nation and observing the rule of law
He said the federal government was working very hard to close technology gaps in the country.
In a similar development, the minister said that President Muhammad Buhari will not disappoint Nigerian youths who have reposed confidence in him.
The minister said this when Mr Fidelis Nwachukwu, who developed an excavator, visited him in his office in Abuja.
He said: “This government is bringing back our pride. We will support the youths who are hardworking and honest. President Muhammadu Buhari will not disappoint the youths who have reposed much confidence in him.”
Nwachukwu had earlier told the minister that the excavator would save the country capital flight in billions of dollars.