Nigeria to save N4tr from imports’ cutback for 3 years – Minister

Minister of Science and Technology, Dr Ogbonnaya Onu. PHOTO CREDIT: SHIPS & PORTS archive

Minister of Science and Technology, Dr Ogbonnaya Onu. PHOTO CREDIT: SHIPS & PORTS archive

Nigeria stands to save N3.6 trillion as well as generate 4.4 million jobs, if it cuts down on the importation of goods and services for three years, Minister of Science and Technology, Dr Ogbonnaya Onu, said on Thursday.

The minister made the disclosure at the 32nd University of Port Harcourt convocation lecture in Port Harcourt, Rivers State.

He said, “Nigeria stands to save N3.6trillion if they reduce importation of goods and services for three years. About 4.4 million jobs will be created.”

Onu lamented that efforts to industrialise the country in the past did not yield any result as according to him, “no nation has ever, and will ever become truly great without effectively utilizing science and technology. This is because the economic development of any nation depends on the effective and efficient utilization of its natural resources so as to take care of her peoples’ basic needs.”

The minister stressed the need to revamp the leather and textile industry as this will go a long way to grow the nation’s economy.

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