Nigeria and Israel have commenced moves to deepen their partnership in innovation, entrepreneurship and production to harness the former’s huge potential for technological development.
This was disclosed, yesterday, when the Israeli Ambassador to Nigeria, Michael Freeman, visited the Executive Secretary of Tertiary Education Trust Fund (TETFund), Sonny Echono, at the Fund’s Headquarters in Abuja.
Freeman expressed Israel’s desire to work with Nigeria in the area of technology and entrepreneurship development, describing Nigeria as a country of huge potential due to its teeming youth population.
While describing Israel as a leading country in tech and innovation, the envoy disclosed that 45 per cent of his country’s Gross Domestic Product (GDP) comes from innovation and start-ups, as the country’s major economic sectors are into high technology and industrial manufacturing.
According to him, with Nigeria’s huge potential, even a 30 per cent GDP addition from tech, innovation and entrepreneurship will hasten its economic development.
He further stated that Nigeria possesses the potential to be a destination for businesses, if innovative developments are harnessed, particularly through innovation incubation hubs.
This, he asserted, would provide young Nigerians with entrepreneurship potential, but lacked expertise, an avenue to be mentored in the right direction.
Freeman also spoke about the Innovation Fellowship for Aspiring Inventors and Researchers (i-FAIR) programme, an initiative borne out of the need to raise a generation of innovators, inventors and researchers in Nigeria.
Echono expressed appreciation to the envoy for his visit and commitment towards strengthening ties with TETFund in Nigeria’s quest for technological and economic development.
While expressing excitement at the numerous benefits derivable from the partnership, he stated: “If innovation and entrepreneurship can provide 45 per cent of Israel’s GDP, one can only imagine what 10 or 20 per cent will do to Nigeria’s GDP with our population.”
There is a global consensus, Echono added, that Nigerians are hardworking and intelligent.”
“If provided with the right incentives, one can envision what can be unlocked through technology, innovation and entrepreneurship.”
While intimating Freeman of TETFund’s collaboration with Innova8 Hub and other strategic partners, he also hinted on the Fund’s drive to domesticate innovation hubs in some of Nigeria’s tertiary educational institutions.
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