Nigeria, Israel to deepen partnership in innovation, entrepreneurship

Nigeria and Israel have commenced collaborative moves to deepen partnership in innovation, entrepreneurship and production with the aim of harnessing Nigeria’s huge potentials for its technological development.

This was disclosed by TETFund’s Director of Public Affairs and Protocol,  Abdulmumin Oniyangi, Wednesday, in a statement after the the Israeli Ambassador to Nigeria, His Excellency, Mr. Michael Freeman, paid a working visit to the Executive Secretary of Tertiary Education Trust Fund (TETFund), Arc. Sonny Echono, at the Fund’s Headquarters in Abuja Tuesd

During the visit, the envoy expressed Israel’s desire to work with Nigeria in the area of technology and entrepreneurship development, describing Nigeria as a country of huge potentials because of its teeming youth population.

While describing Israel as a leading country in technology and innovation, Ambassador Freeman disclosed that 45% of Israel’s GDP comes from innovation and entrepreneurship start-ups, as the country’s major economic sectors are involved in high technology and industrial manufacturing.

He stated that with Nigeria’s huge potential, if same could be achieved, or even a 30% GDP addition to Nigeria coming from technology, innovation and entrepreneurship, it would hasten Nigeria’s economic development.  

The Israeli envoy further stated that Nigeria possesses the potential to be a destination for businesses if innovative developments are harnessed, particularly through innovation incubation hubs. 

This, he said, would provide young Nigerians who have entrepreneurship potentials but lack expertise, an avenue to be mentored and guided in the right direction. 

Mr. Freeman also spoke about the Innovation Fellowship for Aspiring Inventors and Researchers (i-Fair) programme, an initiative borne out of the need to raise a generation of innovators, inventors and researchers in Nigeria; especially among the youths. 

In his remarks, Arc. Echono expressed appreciation to the Israeli Ambassador for his visit and commitment towards strengthening ties with TETFund in Nigeria’s quest for technological and economic development.

While expressing excitement at the numerous benefits derivable from the partnership, he stated that “If innovation and entrepreneurship can provide 45% of Israel GDP, one can only imagine what 10 0r 20% will do to Nigeria’s GDP with our population”. 

Echono said there is a global consensus that Nigerians are hardworking and intelligent, if provided with the right incentives, therefore, one can envision what can be unlocked through technology, innovation and entrepreneurship. 

While intimating Mr. Freeman of TETFund’s collaboration with Innova8 Hub and other strategic partners, Echono also hinted on the Fund’s drive to domesticate Innovation Hubs in some of Nigeria’s tertiary institutions of learning.