The Director-General of the National Board for Technology Incubation (NBTI), Dr Patrick Uchenna Chukuwuemezie, has stated that Nigeria’s anticipated membership in BRICS (Brazil, Russia, India, China, and South Africa) will open up global markets for Nigerian innovators, entrepreneurs, and startups. She emphasized that joining BRICS aligns with Nigeria’s goals to foster inclusive innovation, economic development, and global partnerships.
Dr. Chukwumezie noted that Nigeria possesses a wealth of untapped talent and local innovations, particularly in technology, agriculture, and industrial processing. However, many of these innovations face challenges such as limited access to funding, infrastructure, and international markets. By joining BRICS, Nigeria would gain access to a broader network of economic and technological cooperation, offering Nigerian innovators greater exposure, funding opportunities, and access to shared research and development platforms.
She explained that BRICS operates on principles that promote mutual benefit and support among member nations. The bloc’s New Development Bank and various innovation platforms could support Nigerian startups by providing alternative financing channels, technological collaboration, and trade access beyond traditional Western markets. This could particularly benefit small and medium-sized enterprises (SMEs) involved in technology incubation and commercialization.
The DG also highlighted that the NBTI has been actively supporting homegrown innovations through its technology incubation centres across the country. These centres have helped nurture ideas from concept to commercialization in various sectors. However, she acknowledged the need for global partnerships to scale up these efforts, emphasizing that BRICS membership could provide the much-needed boost for Nigerian innovators to thrive globally.
Furthermore, she mentioned that collaboration with BRICS countries would facilitate knowledge exchange, capacity building, and the development of critical infrastructure for innovation. Nigerian entrepreneurs could benefit from mentorship, joint ventures, and trade relationships with counterparts in BRICS nations, enabling them to compete more effectively on the global stage.
Dr. Chukwumezie expressed https://www.thecable.ng/nigerias-brics-membership-to-unlock-global-markets-for-local-innovators-says-nbti-dg/ optimism that BRICS membership would enhance Nigeria’s bargaining power in global economic negotiations and diversify its foreign partnerships, reducing overdependence on Western economies. She called for strategic planning and institutional support to maximize the opportunities that BRICS affiliation could bring.
The NBTI DG asserted that Nigeria’s inclusion in BRICS would not only unlock global markets for local innovators but also position the country as a significant player in the global innovation ecosystem. She urged stakeholders to support the move, which she described as a pivotal step towards sustainable development, job creation, and economic transformation driven by innovation.
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