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Import Reduction: How Nigeria Saved Over 5 Trillion Naira – Onu.

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Indications from the National Bureau of Statistics suggest that Nigeria recorded cumulative savings from import reduction of over 5 billion naira from 2017 to 2020.

Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu revealed this at the closing ceremony of the 2022 STI Expo Organised by the ministry in Abuja.

Onu attributed the achievement to the decision by the ministry to collaborate with regulatory agencies and the organised private sector to improve the quality of products to meet local industries and businesses specifications and requirements.

The minister further added that the initiative has helped Nigeria to become a home for start-ups with positive impacts in the nation’s small and medium sector of the economy.

Onu also used the opportunity to highlight some of the reforms pursued and implemented by the Ministry including key gains in the health sector.

Highlight of the closing ceremony was the presentation of different awards to deserving winners during the Expo.

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