Yabatech: Emphasis on homegrown technology – Sanwo-Olu

TheNewwZenith reports that Sanwo-Olu made the remarks at the Yaba College of Technology (Yabatech) 36th Convocation Lecture, on Tuesday in Lagos.

The theme of the lecture is: “Developing Exportable Alternatives for Nigeria’s Economic Recovery”.

Sanwo-Olu said the nation’s foreign exchange situation has hurt the Naira’s stability. It is also complicating some other problems, including inflation.

According to him, Nigeria is blessed with human and material resources and endowed with the potential to be great.

“We need to rise and convert all our potential into reality.

“A country that is the world’s biggest producer of cassava and yam should be earning hundreds of millions of dollars annually from exporting them.

“If there is one lesson we have learnt over many decades, it is that there is no value or pride in exporting raw materials to the world.

“Countries that prosper from natural resources are those that process and add value to them before exporting,” TheNewsZenith quotes the governor as saying.

Sanwo-Olu said that Nigeria’s exports have dropped drastically over the past decades.

He noted that the country was once known for the export of agricultural produce such as groundnut, cotton and cocoa.

“Oil and gas products have dropped over the last several years, we have not managed to protect the goose that has laid the golden eggs.

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“We have since become known for our near-absolute dependency on food import,” he added.

The governor stressed the need to create more opportunities to engage the youths positively across the country.

According to him, illiteracy, poverty, ignorance and disease should not be allowed to thrive in the country.

“Also, we are building the largest logistics park for agriculture in Sub-Saharan Africa. All these are a testament to enabling a non-oil export economy for Nigeria,” he said.

The governor charged the college to conduct more research. He said the college is endowed with full of academics and professionals in various fields of technological endeavour.

“As a College of Technology, you have the responsibility of inventing and producing the technology that will drive Nigeria’s industrial revolution.

“Invent technologies that will turn our limited-value cocoa beans into limitless-value chocolate and our lithium reserves into high-tech batteries”.

Sanwo-Olu also tasked the college to research the nation’s vast solar and wind energy potential and turn them into abundant electricity to power homes, factories and ports.

“Yabatech should be at the forefront of the homegrown technology revolution. Such revolution should make it possible for Nigeria to transform its natural resources into high-value processed goods for both local and exportto be consumption,” he added.

In a message to the event, Vice President Kashim Shettima said the nation expects more from Yabatech.

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Dr Tope Fashau, the Economic Adviser to President Bola Tinubu, represented Shettima, who was the Chairman of the occasion.

He described the institution as a pioneer in the field of technology and technical skills.

“Nigeria required technology and technical skills to be greater. Where the challenge lies now is how to add value to our products.

“We must improve on how to produce primary and secondary goods that our people need for decent existence and export.

“We need your help Yabatech as we desire to get the required export proceeds.

“It will start with the products of science and technology. We are already adapting to selling crude oil, cocoa, sesame seeds, sorghum, soybean, mahogany and water lilies,” VP said.

Welcoming guests to the event, the College Rector, Dr Ibraheem Abdul, said the convocation lecture provided a platform to discuss solutions to some of Nigeria’s pressing challenges.

Abdul added that it was also to celebrate the academic accomplishments of its students.

“The institution has a legacy of contributing to Nigeria’s industrial and economic advancement.

“We are committed to fostering creativity, equipping students with practical skills and bridging the gap between academic knowledge and real-world application,” TheNewsZenith quoted him as saying.