Judul : Biotech: Nigeria's Route to Economic Diversification and Sustainable Growth
link : Biotech: Nigeria's Route to Economic Diversification and Sustainable Growth
Biotech: Nigeria's Route to Economic Diversification and Sustainable Growth
A Medical Microbiology and Microbial Genetics professor, Emmanuel Olufemi Ekundayo, from the Biotechnology department at the Federal University Lokoja, has stated that funding in biotechnology offers chances for economic variety and long-term growth in Nigeria.
The professor revealed this yesterday during the 34th Inaugural lecture at the University, which took place at its Adankolo-Lokoja campus, with the theme: 'Biotechnology: The Science, the Products, and the Business - Utilizing Local Bioresources for the National Bioeconomy.'
He argued that the nation possesses abundant biological diversity, a rising young population, and a rising need for food and medical services, which can support a thriving biotechnology industry within the country and across most of Africa.
The Don emphasized that local entrepreneurship, when aided by incubators, venture capital, and clear regulations, can establish biotechnology as a catalyst for innovation-driven economic development.
He mentioned that the investment in biotechnology goes beyond the commercialization of products, including the generation of economic value, employment opportunities, and entire industries; emphasizing that the biotechnology sector focuses on improving lives, transforming industries, and impacting nations.
Professor Ekundayo emphasized that biotechnology entrepreneurship has significant potential to reshape economies and societies by tackling critical global issues in health, agriculture, and environmental sustainability.
Biotechnology as a commercial enterprise serves as the link between scientific findings and their effect on society. The continent has the capacity to develop bio-based industries that generate employment and decrease reliance on imports.
Cultivating a thriving biotechnology industry in Africa necessitates targeted funding for skill development, favorable regulatory frameworks, exchange of technological expertise, and collaboration among educational institutions, public authorities, and the private sector.
Major prospects include biopharmaceutical production, agricultural biotechnology aimed at climate-resilient farming, and bio-based businesses that transform regional biomass into fuels, fertilizers, and advanced chemicals.
"Ultimately, biotechnology entrepreneurship goes beyond just launching companies; it involves transforming science into innovation that connects discoveries with societal requirements," stated Don.
He mentioned Africa, with Nigeria specifically, needs to now meet the challenge of integrating biotechnology into national development plans, as the global North has established it as a key component of its knowledge-based economy.
He stated: "For Africa and Nigeria specifically, biotechnology presents a route to diversify economies, enhance healthcare systems, boost agricultural output, and participate in the global knowledge-based economy."
To accomplish this, we need to pledge to intentional funding, supportive regulations, and forward-thinking leadership that can transform science into lasting enterprises, and businesses into community advancement.
Nevertheless, he mentioned, unlocking this potential demands more than just scientific knowledge; it also involves business expertise, policy advancement, and funding for the bioeconomy.
Professor Ekundayo, who mentioned his aspiration to establish an Institute of Biotechnology at the Federal University Lokoja, emphasized that
The moment has arrived for our university to take the forefront not just in creating knowledge, but also in applying it, turning laboratory findings into real-world advantages for farms, businesses, and local areas.
Let us be the generation that uses innovations and discoveries to tap into the strength of biotechnology, transforming our biological resources into products, and from those products into businesses that positively influence our lives. We possess the resources. We have the capability. What we require is the determination to make it happen.
In his comments, the Vice Chancellor of the federal university Lokoja, Professor
Olayemi Akinwumi stated that the inaugural lecture is more than a regular academic ceremony, but rather a profoundly symbolic and historic academic occasion within the university.
He stated, "It is the medium via which a scholar officially shares with the academic community and the public their experiences in research, instruction, and service."
It offers the audience a chance to understand the lecturer's area of expertise, their advancements in knowledge, and the effect of this work on society.
It also serves as a way to enhance research efforts at our university; encouraging cooperation, originality, and imagination.
The Vice Chancellor mentioned that the University views the Inaugural Lecture series as a key platform for showcasing the academic expertise of its faculty to the country and global audience.
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