The Vice President of Nigeria, Senator Kashim Shettima, on Thursday has inaugurated the Interministerial Committee on Analysis and Innovation, charging them to construct Nigeria into an innovation-driven, trillion-dollar financial system inside 10 years.
This was disclosed in a press release by Stanley Nkwocha, Senior Particular Assistant to the President on Media & Communications(Workplace of the Vice President) on seventeenth April, 2025.
Kashim Shettima charged the committee members to make sure meals safety in Nigeria,power safety to energy the financial system and break the nation’s dependence on imports.
$1 trillion financial system mission
- The committee, in accordance with Shettima, is a part of ongoing efforts by the administration of President Bola Ahmed Tinubu to pool mental and monetary capital to “create the cockpit from which Nigeria’s innovation financial system can be piloted.”
- Talking on Thursday on the Presidential Villa, Abuja, VP Shettima burdened that the committee’s mission is to construct Nigeria right into a trillion-dollar financial system inside 10 years.
“We’re right here to breathe life not into this Committee, however right into a daring mission: to construct Nigeria into an innovation-driven, trillion-dollar financial system inside a decade. The long run we want will not be one thing we inherit. It’s one thing we construct,” he acknowledged.
- The Vice President noticed that innovation is the foreign money of each civilisation.
“None of that is potential with out analysis—the mom of all of the innovations which have guided humanity by the waves of the Industrial Revolutions. This gathering, subsequently, is a declaration of our collective resolve to until the soil, discover the seas, and scout the area of information to grasp the results of our selections. I’m actually impressed by the promise of what we’re getting down to obtain right here,” he acknowledged.
The VP outlined the committee’s phrases of reference, which embody coordinating motion in 5 strategic sectors with the ability to remodel society.
Different phrases of reference contains “Agriculture and Local weather Resilience, the place analysis innovation should feed our folks and shield our planet; Manufacturing Excellence, the place we break our dependency on imports and construct proudly Nigerian provide chains; Healthcare Innovation, the place we shift from importing medicines to exporting medical breakthroughs; Pure Useful resource Optimisation, the place we cease promoting uncooked supplies and begin exporting ingenuity; and Vitality Safety, the place we energy our financial system and safe our future.”
- The Vice President urged the committee to cut back Nigeria’s meals import invoice by 50 per cent by innovation.
“What is going to it take to cut back our meals import invoice by 50%? How can we triple native pharmaceutical manufacturing? Allow us to align coverage, analysis, and funding to reply these questions and obtain measurable, significant outcomes,” he added.
Extra insights
Earlier, the Minister of Innovation, Science, and Expertise, Mr Uche Nnaji, recommended the management offered by the Vice President and the dedication of the related ministries, departments and businesses.
- The minister assured that the inter-ministerial committee would assist the nation save scarce assets and transfer quicker in the correct path, by harmonising efforts, human and materials assets for the aim of enhancing analysis and innovation throughout essential sectors of the financial system.
“The key phrase right here is collaboration. We’ve been spending some huge cash on our varied ministries, duplicating our features,” the Minister acknowledged.
The minister assured that the committee will do its half to save lots of some huge cash for the federal government and cut back duplication.
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