Smart technology adoption to boost local manufacturing, says BoI
THE Bank of Industry has pledged support for the adoption of smart technology by local manufacturers in order to compete effectively with imported goods.
The bank noted that while a lot of developed countries are adopting smart manufacturing and robotics, many Nigerian manufacturers are using outdated equipment therefore hampering the competitiveness of locally produced goods in comparison with imported ones.
According to the bank, this is a challenge that should be addressed as soon as possible.
Making the commitment in Lagos recently, the Managing Director of BoI, Rasheed Olaoluwa, disclosed that the development institution would be collaborating with technology researchers across the country to promote the use of smart technology to reduce cost of locally produced goods.
Speaking at the Stephen Oluwole Awokoya Foundation for Science Education (SOAFSE), yearly lecture, awards of honours and postgraduate scholarships, the BoI helmsman noted that the rest of the world was moving in the smart technology direction and Nigeria ought not to be left behind.
“BoI has engaged with top research institutes like FIIRO, PRODA to link them to our industries. We may not be cutting edge but we have the basics; if our hundreds of researchers are encouraged, we have a good base we can build on,” he said.
He stressed that no country will develop technology and give it away just like that rather, Nigerian engineers, scientists and technologists must be protected and given the rights that come with their research results.
Olaoluwa congratulated the honorees: Engr J. J Akpieyi, Senator Daisy Danjuma and Dr. Adewunmi Desalu. and charged the seven science postgraduate scholarship recipients to use their opportunities to develop themselves as innovators who would put Nigeria on the world map of scientific innovation.
He noted that there was so much talk on resources whereas the emphasis ought to be on resourcefulness, using little to achieve much.
He noted that some of the learning points drawn from the life of Late Prof Stephen Oluwole Awokoya were his creativity, innovation and resourcefulness for successfully initiating and seeing through the free basic universal education, which was an enduring legacy bestowed on Nigerians.
Earlier, the Chairman of the Board of Trustees, Senator Olabiyi Durojaiye, stated that the common denominator for the award of scholarships by the foundation was a record of excellence in science, while the honours awards were predicated on impeccable achievements to others and the society.
“Prof Awokoya, whom this foundation is in his name, inspired and positively touched the lives of many Nigerians hence the rationale for immortalising his memory by widening the intellectual capacity for leaders in the African horizon,” he said.
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1 Comments
nigerians are very resourceful, all one needs to do is look at what is being done and produce with limited resources, energy and funding. our industrial competion with other country is not only because they use smart tech, it is because they don’t spend so much on basic infrastructure. anything product produced in the country is already 20% more in price due to lack of electricity, transportation and high cost of capital.
We will review and take appropriate action.