The Federal Ministry of Science and Technology and the Tertiary Education Trust Fund (TETFUND), on Tuesday, signed a Memorandum of Understanding (MoU) to boost research and development with a view to promoting national development.
Minister of Science and Technology, Dr Ogbonnaya Onu said, while signing, that the MoU was part of efforts to deepen knowledge and innovation-driven economy.
He explained further that research agencies would greatly benefit from the development.
Dr Onu said the MOU would cement synergy between research agencies and academic institutions to the overall benefit of the country.
The minister explained that research institutes would now avail their research equipment and findings to the universities so as to enhance academic excellence and outputs.
He said increased funding for researchers in the agencies will discourage Nigerians from patronising imported herbs as Nigerians have more than enough herbal resources that are lying fallow.
Earlier, the Executive Secretary, TETFUND, Mr Elias Sulaiman Gungoro said that the Federal Government released N5 billion last year to his agency to fund research and expressed hope that the grant will be increased to further enable it to intensify on funding research.
He also said that Science, Technology, Engineering and Mathematics (STEM) is the nerve centre for developed nations and for Nigeria to achieve development, STEM subjects must be embraced by students and researchers.
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