The Senate has assured the National Agency for Science, Engineering and Infrastructure NASENI it will get its funding from the Federation Account as stipulated by the NASENI act of nineteen-ninety-two.
The Chairman of the Senate Joint Committee on Finance and National Planning Senator Solomon Olamilekan says there is a need to promote research in science and technology in order to create wealth for Nigeria, reduce unemployment among Nigerian youths and increase both foreign and local revenue.
Senator Olamilekan gave the assurances during a public hearing probing the income and expenditure of government agencies as part of the review of the Medium Term Expenditure Framework review paper ongoing in Abuja.
He says the one per cent remittance from the federation account as provided by the NASENI act will be implemented from September next month.