“Budget of Sustaining Growth and Job Creation” is the year 2020 executive budget proposal of President Mohammadu Buhari presented to joint session of the National Assembly, Abuja on Tuesday, October 8, 2019 with N10.33 trillion been the total budget. However, N10.33 trillion is estimated as the total Federal Government revenue in 2020 and comprises oil revenue N2.64 trillion, non-oil tax revenues of N1.81 trillion and other revenues of N3.7 trillion. This is 7 percent higher than the 2019 comparative estimate of N7.594 trillion inclusive of the Government Owned Enterprises. According to President Buhari “investing in critical infrastructure is a key component of our fiscal strategy under the 2020 Budget Proposals.

An aggregate sum of N2. 46 trillion (inclusive of N318.06 billion in statutory transfers) is proposed for capital projects in 2020”. Although the 2020 capital budget is N721.33 billion (or 23 percent) lower than the 2019 budget provision of N3.18 trillion, it is still higher than the actual and projected capital expenditure outturns for both the 2018 and 2019 fiscal years, respectively. However, at 24 percent of aggregate projected expenditure, the 2020 provision falls significantly short of the 30 percent target in the Economic Recovery and Growth Plan (ERGP) 2017-2020. Budget deficit is projected to be N2.18 trillion in 2020. This includes draw downs on project-tied loans and the related capital expenditure. This represents 1.52 percent of estimated GDP, well below the 3 percent threshold set by the Fiscal Responsibility Act of 2007, and in line with the ERGP target of 1.96 percent.

The deficit will be financed by new foreign and domestic borrowings, Privatization Proceeds, signature bonuses and draw downs on the loans secured for specific development projects. In terms of debt servicing which has become one of this administration big criticism.2020 budgets, provide the sum of N2.45 trillion for debt service. Of this amount, 71 percent is to service domestic debt which accounts for about 68 percent of the total debt. The sum of N296 billion is provided for the Sinking Fund to retire maturing bonds issued to local contractors.

The foregoing on 2020 budget is to provide an over view of what the proposal key details entails. However, the concern of this piece is to address cogent aspect of the budget as its affect science and technology in Nigeria. The pattern of budget allocation for the science and technology sector over the last few years’ shows that the allocation to this sector, as not been encouraging, especially if we must consider how critical this sector is to the overall economy development of our nation. For instance in the appropriation bill for the year 2020 N87.35 Billion is allocated for the Federal Ministry of Science and Technology (FMST). A breakdown of this show that for capital project N37.55.billion and recurrent expenditure N49.80 billion. A review of the outgoing year 2019 budget N66, 823,303,434 in the 2019 for the Federal Ministry of Science and Technology (FMST). According to the Appropriation Bill 2019, N35, 020,953,172 is proposed for recurrent expenditure and N31, 802,350,262 for capital expenditure.

According to the 2020 budget details, Federal Ministry of Science and Technology (FMST) are among the top 12 capital and recurrent allocations in the 2020 budget. But unfortunately, it occupied the 12^th position on both side. This portrayed that budget for S&T is still not a cardinal priority for us in Appropriation Bill 2020 just as it happen in 2019 budget and others before now. While we acknowledge the importance of all sectors and their relevance, we must also prioritise our development agenda as S&T remains critical. The top 12 capital allocations in 2020 budget are; Works and Housing N259.20 billion; Education N162.74billion; Power N127.67billion;TransportN123.07billion;DefenceN99.87billion;HealthN90.88;AgricultureN79.79billion;Water resourceN78.34billion;Humanitarian affairs and Disaster N54.45billion;Aviation N53.85billion;Industry,trade and investment; Science and Technology N37.55billion

At recurrent allocations side Defence top the table with N778.59 billion as the war against boko Haram is still much around, one would not expect less for that sector. Education followed next with N490.20 billion; Police affairs N395.83billion; Health N336.32 billion; Interior N219.46 billion; Youth and Sport N168.33 billion; Office of the National Security Adviser (ONSA) N114.91 billion; Petroleum ResourcesN75.60billion; Foreign Affairs N67.56 billion; Office of the Secretary to the Government of the of the Federation (OSGF) N59.60billion; Agriculture & Rural Development N58.67 billion; while Science and Technology N49.80 billion occupied the 12^th position.

The ministry as established has the following mandates:
*Formulation, monitoring and review of the National Policy on Science, Technology and Innovation to attain the macro-economic and social objectives of Vision 20:2020 as it relates to science and technology; *Acquisition and application of science, technology and innovation contribution to increase agricultural and livestock productivity; *Increasing energy reliance through sustainable R&D in nuclear, renewable and alternative energy sources for peaceful and development purposes; *Promotion of wealth creation through support to key industrial and manufacturing sectors; *Creation of technology infrastructure and knowledge base of facilitate its wide application for development; *Application of natural medicine resources and technologies for health sector development; *Acquisition and application of Space Science and Technology as a key driver of economic development; and *Ensuring the impact of R&D results in the Nigerian economy through the promotion of indigenous research capacity to facilitate technology transfer. With Seventeen (17) key agencies

At a time the current government planning to diversify the economy away from crude oil and seek for alternative means to leverage its growth and jobs creation target as well as revenue generation. Critical sectors like Science, Technology, Innovation and Research potentials are nonetheless real and cannot be easily written off. Unlocking this potentials as well as achieving sustainable development is also pragmatically hinged on Science, Technology, and Innovation and Research development.

As this piece makes case for science and technology in Nigeria, it is in our opinion that for S&T, understanding the political economy and socio-economy context is off due diligence as a matter of course when it comes to budgeting for S&T, knowing the vast of opportunities that come with it. The non-transition over the years by Nigeria’s economy from traditional mono-cultural economy oil is bane her development economically. Nigeria needs a genuine transition, a change of orientation from a consuming nation to a manufacturing economy which creates jobs or bequeaths equitable wealth distribution on citizens.

While we must commend the president for early presentation of the budget to the national Assembly, also we must charge legislature to fulfill their own part to fast-tracking the debate and committee hearing from MDAs and Parastatals .As Nigerians would not entertain delayed passage of budgets that has done incalculable harm to the economy over the years. Infrastructure projects, which catalyse economic developments, suffer most with late implementation. Local investments are delayed as investors tarry to see how their businesses could be affected. This malaise cripples jobs and wealth creation.

No doubt, at the heart of every economic development lies technology the world over. Those judicious roles played by technology that fuels economic development just like it is the lack of it resulting from poor policies that ruins the industrialization of any countries. Today, the new source of competitive advantage is technology centricity: deeply understanding how technology can boost economic development.

Authentically, what increasingly separates winners from losers is the ability to transform opportunity into result. And has the famous English philosopher John Locke rightly said” I have always thought the actions of men the best interpreters of their thought”

We live in a real life situation where things work and must work perfectly, and as desired. push({}); It is where and when expectation and fulfilment meet. The benefit of tapping into vast quantities of technological knowledge available worldwide is not quantified.

The primacy of technology as indispensable cannot be overemphasized. Technology impacts positively on an individual’s quality of life and it’s functionality has implications on the national economy as epitomised by the facts that, all activities around us now has input of technology: business transaction, classroom teaching, examination conduct, office process automation, health and life saving equipment, election conduct, ease of communication, security of life and property and many more.

One important visible hands of technology is to leverage biotechnology to address local agricultural challenges and the focus on problems such has pests, disease, drought and low nutritional content of staple crops has impact on economic development.

Also, both in the service and manufacturing sector, technology remains imperative and an engine to drive economic development. It therefore, goes without saying that technology play a critical role in the development of individual and how the individual interacts with others in the society with a view to wealth creation and national productivity as well as overall economic development of a nation.

 Indeed, with technology, economic activities would optimally benefit domestic industry, since it will create the secondary sectors of industrial processing. This could, however in the context of the imperative of technology provide a virtuous circle of a performing economic development. Just how crucial a vibrant domestic industry is to the economy is reflected in the technology application.

A thriving technology application has a multiplier effect on agriculture, banking, medicine, transportation, health, security, electric power generation, and manufacturing and for mankind in general. It is no gain saying that technology provides incentive for a dynamic and creative economy via gainful industrialization. Technology strengthens industrial development and encourages domestic enterprise.

To move Nigeria from the periphery to the dominant centre of global industrial power, demand the swift application of technology development. We however, appreciate as well encourage Nigeria government through the Federal Ministry of Science and Technology and all the seven-teen (17) parastatals and agencies under her, the academicians, scientist, inventors, researchers, innovators and all stakeholders in the science and technology, innovation, research, development and innovation system to see beyond the horizon by pushing technology application frontiers toward, as driver of our economic development.

No other sector in Nigeria knows this fact today as much as you do. Only you do know. And have the responsibility to bring out technology-the unseen hands behind global economic development. Not only that, but to commence an advocacy that “science and technology is a task that must be done if Nigeria must come out of its present economic wood”. We see possibility of an onward economic development with growing groundswell of interest as demonstrated by the current Honourable Minister of Science and Technology, Dr Ogbonnaya Onu and Minister of State Science and Technology Barrister Mohammed Abdullahi as well as all stakeholders in the sector. This will spur for more scientific research and technology development. Very importantly, technology is worthwhile and it hold the key as we keep exploring it benefits to further the resolution of our economic development.

Technology remains one of the crucible pathway to shared prosperity in Nigeria for the good of all. Creating technology-driven economies will demand greater investment in smart government policy that supports technology development. Nigeria industrialization can only be successful with science and technology, innovation, research and development and this will help us to be compete favourably in the 21^st century global markets and beyond.

According to a research carried out by the National Centre for Technology Management (NACETEM). Nigeria is now a recipient of obsolete and misfit technologies.

NACETEM, an agency of Nigeria’s Federal Ministry of Science and Technology that provides critical knowledge support in the area of Science, Technology, Innovation (STI) management for sustainable development in a report made available to the News Agency of Nigeria (NAN) in Abuja, the centre said the development was due to reliance of the country’s manufacturing and service firms on imported technologies.

Speaking to NAN on the issue, Dr Abiodun Egbetokun, Assistant Director of Research in NACETEM said a survey was jointly carried out by NACETEM and Centre for Innovation Indicators (CesTII) at the South Africa’s Human Sciences Research Council. adsbygoogle || []).push({});

He said the research focused on the innovation performances of Nigeria and South Africa and how the productive sector of the economies of both countries fare particularly in relation to the creation and application of knowledge.

He said findings revealed that both countries use technology acquisition as the key innovation strategy but South Africa used more technology in the manufacturing sector than Nigeria.

“We compared innovation in manufacturing between both countries; we found a slightly higher rate of innovation in South Africa than in Nigeria.

“But, firms in both countries rely on technology acquisition (that is, the purchase of embodied technology through machinery, equipment and software) to innovate.

“In the specific case of Nigeria, most of the technology is imported.

“In the comparison of service firms, the difference in innovation rates between both countries is not noticeable.

“While Nigerian service firms still rely on technology imports, South African firms emphasise staff training as the main innovation strategy,’’ he said.

The director said both countries used technology acquisition as key innovation strategy to improve the quantity and quality of their value propositions.

He noted that the two countries faced critical financial and other barriers to innovation.

On services sector, the official said the two countries used training and technology acquisition as key innovation strategies to improve the quantity and quality of their proposition.

According to him, the findings of the research show that the Gross Domestic Products (GDPs)of the two countries were stalled in recent years.

The director said there were several reasons why GDP growth rates could be stalled but the most plausible in the case of both Nigeria and South Africa is what economists term “middle income trap”.

“This happens when a country grows rapidly and attains middle income status (according to World Bank classification) but is unable to grow beyond that status.

“Often, what drives the pre-middle-income growth is connected to specific advantages that the country has, for instance in the export market for primary commodities (in the case of Nigeria, crude oil, and in South Africa, gold).

“Due to local wage increases that accompany middle income status, the country tends to become less competitive in the export market and is, at the same time, unable to compete with more advanced countries in the market for finished goods.

“That is the story of Nigeria and South Africa.

“Currently, both countries grapple with poor domestic labour market conditions, evidenced by incessant wage increases, worker protests, large share of workforce in indecent employment, etc among other characteristic middle income trap problems,’’ he said.

Egbetokun said data from the research was drawn from the South Africa Business Innovation survey (2008) and the Nigerian Business Innovation Survey (2010)

“These are the latest available data. The surveys stopped since then because funding of the NEPAD African Science, Technology and Innovation Indicators Initiative (ASTII) stopped and each country needed to fund its own innovation surveys.

“Unfortunately, NACETEM did not receive funding for the surveys from the Nigerian government until in the 2018 budget year.

“We are now embarking on the data collection process for another round, but any analysis for now will have to rely on the old 2008-2010 data.

“For comparability, we chose 2010-2012 data for South Africa. Other years would have been too far apart between both countries,’’ the director said.

According to him, an innovation survey is normally conducted periodically (typically once every three years) to assess how the productive sector of an economy fares, particularly in relation to the creation and application of knowledge.

“These surveys are useful because they help to identify the strengths and weaknesses of the industrial sector in a country, with a view to designing appropriate policies and structures to initiate and sustain growth.

“Innovation surveys have been carried out in Europe, where they are commonly known as Community Innovation Surveys (CIS), since 1991/92.

“In 1996, South Africa was the first African country to implement an innovation survey.’’

NAN reports that the recent research emerges from Memorandum of Understanding (MoU) for joint research and training that NACETEM signed with CeSTII in 2017.

Author Profile

Abdulrahman Obaje

Prince Abdulrahman Obaje is a Media and ICT Consultant, Journalist, online marketer, social media strategist, Mathematician and Computer Scientist based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.

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