By Ijeoma Olorunfemi
African University of Science and Technology (AUST) says Africa should transit from reliance on imported solutions to homegrown innovation driven by research commercialisation.
The president of AUST, Prof. Peter Onwualu, said this at a news conference on Wednesday in Abuja ahead of the Africa X Summit scheduled for April 27 to 29.
Onwualu said that many of the solutions currently deployed to address the continent’s challenges were largely imported technologies or semi-processed inputs, making development efforts unsustainable.
He said in spite of Nigeria’s youthful and highly educated population, abundant natural resources, and the growing emergence of innovation hubs across cities, the country still struggled to translate knowledge into tangible economic value.
“The issue is that almost everything we use or consume, including what we use in production, is imported is the reason why our development agenda is not sustainable,” he said.
Onwualu said while youths and researchers had made commendable efforts in developing technologies and solutions, more should be done to move research outcomes into innovation and eventually to marketable goods and services.
He described the challenge as a systemic failure that had made it difficult to commercialise research findings and inventions, in spite of the presence of over 300 higher institutions, hundreds of research centres, and a growing informal innovation sector.
He explained that the AfricaX Summit was conceived as a platform to bridge this gap by convening innovators, investors, entrepreneurs, and policymakers under one roof.
Onwualu said the event would facilitate matchmaking between innovators seeking to scale their solutions and investors looking for viable opportunities, with the aim of enabling selected innovations to reach the market.
He further said that the initiative would strengthen collaboration among stakeholders, including government institutions responsible for policy development.
The AUST president further said the summit would extend beyond Nigeria, with participation from other African countries.
This, according to him, is in line with the continent’s growing push for economic integration under frameworks such as the African Continental Free Trade Area.
Onwualu also called for the passage and implementation of the National Research and Innovation Fund to ensure sustainable funding for research and development.
Earlier, the Chairman of the Local Organising Committee, Mr Kingsley Ogwudu, described the summit as a pivotal moment in Africa’s innovation journey.
Ogwudu said the event would serve as a catalyst to bridge the gap between African research and global capital, bringing together innovators, researchers, investors, policymakers, and development partners.
“Africa can no longer be a mere consumer of innovation and technology; we must become architects of solutions to our own challenges in health, education, climate change, energy and fintech,” he said.
He said the summit’s focus areas would include innovation ecosystems, investment and finance, youth and women empowerment, and public-private partnerships.
He said the summit aimed to reverse brain drain by creating opportunities for African talents to develop solutions with global relevance.
“This is your stage for innovators, your deal room for investors, and the future for the public,” he said.
The AfricaX Summit is expected to become an annual event, rotating across different African countries to deepen collaboration,encourage knowledge sharing and innovation across the continent.
The theme of the summit is “Reshaping the Future of Africa through Innovation, Investment and Collaboration.”(NAN)http://www.nannews.ng
Edited by Uche Anunne
