The Nigerian Government Plans to Establish a Science and Technology Development Bank

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The Nigerian government plans to establish a Science and Technology Development Bank, a government official said on Tuesday.

According to the Minister of Science and Technology, Dr. Ogbonnaya Onu, the bank would assist the informal sector to close the technological gap and give financial assistance for research and innovation activities.

The Minister made the announcement at a meeting with the National Association of Motor Mechanics and Technicians in Abuja.

He told the gathering that the ministry had commenced the process of establishing the bank, with a view to implementing a venture capital component to improve the process of technological development.

Credit: ChannelsTv

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