Universities should invest in R&D – Emefiele

To enhance economic growth, universities have been identified as a critical stakeholder with considerable role to play in working with the private and public sector in supporting research and development of solutions that can take the country to the next level.

This was the admonition of the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele to the management of the University of Nigeria, Nsukka on Friday at a special convocation ceremony for doctorate degree awardees.

Emefiele who bagged an honorary doctorate degree in Business Administration at the event, said the world has gone digital and as such requires innovative and creative minds to come up with concepts and products to remain globally relevant.

In addition, Emefiele said universities need to enhance their curriculum, so students are well equipped with the skill sets that are required to support Nigeria’s growth in the digital era.

He said: “Forging partnerships between universities, research institutions, the private sector and public sector institutions in developing and implementing solutions that aid productivity in the agriculture and manufacturing sectors, will be important in order to build a sustainable productive base for the nation.

Emefiele lamented that universities of agriculture seem to have abandoned their core mandates (agric research and development) and delved into other fields, thus robbing the nation of their originally intended value.

“What is a university of agriculture doing with medical sciences? What is the correlation? We need these specialized universities to come up with innovative ways of farming, harvesting, storage, processing, etc.

“There is much to gain from agriculture and the value chain it brings with it. We have vast arable lands that are largely not cultivated.

“We can’t continue depending on crude oil and abandon agriculture. We must grow what we eat and even export them.

“We were importing toothpicks in the past and so many other products we could easily grow here. We had to come up with the list of items not eligible for forex. We will keep adding more items going forward,” he explained.

Also speaking at the event, the Vice Chancellor of UNN, Prof Benjamin Ozumba, said the institution was collaborating deeply with universities in China as there are currently 12 staff and PhD students of the University in China for a research exchange programme.

He further explained that UNN runs a technology incubation hub where students are supported and mentored to nurse their innovative ideas into reality.

“I’m pleased to report that this hub has successfully birthed over 20 business start-ups. While some are already in the marketplace, with the potential of recording huge financial returns, many more are at various stages of incubation.

“One of these incubations known simply as Arone has shown a lot of promise. This start-up company has successfully developed a drone prototype for the delivery of medical supplies to rural communities.

“Just recently, a research team led by Professor Ejiogu developed a new means of electricity generation by using organic waste to install 100kva refuse derived fuel gasification plant at the Nsukka campus of the university.

“The Japan-trained electrical engineer and his research team are set to produce 250kva, which will supply the energy of the University and its environs,” he stated.