Executive Order 5 Designed To Make Nigerian Economy a Knowledge-Based, Technological Driven—Onu




Dr. Ogbonnaya Onu, Minister of Science and Technology, has said the Executive Order 5 which was recently signed by President Muhammadu Buhari was designed  to make Nigerian economy to become one that is knowledge-based, technological driven, innovative and  abreast with the present challenges confronting the nation.

Onu stated this at the South-South dialogue on the Presidential Executive Order No.5 in Port-Harcourt.

He said the Federal Government would empower more Nigerians both at home and in the Diaspora to participate effectively in the management of the economy by attracting both local and foreign investments.

He explained that Nigerian youths, professionals, indigenous contractors and consultants were indispensable if Nigeria was to become a truly great economy.

He said that Nigerian professionals in all fields now have greater opportunities to participate in the economy by utilising the tax incentives and other waivers given to them by the Executive Order 5.

According to him, “The Federal Government will henceforth place premium on the use of indigenous professionals and firms in the design and execution of projects involving national security.

“Foreign experts will only be engaged on condition that such expertise is not available in Nigeria. Even when they are engaged, Nigerian professionals would be attached to understudy them.

“All Ministries, Departments and Agencies are to take steps to encourage indigenous professionals in the Diaspora to return home and use their expertise to develop Nigeria.

“It was on this basis that a delegation from the Federal Ministry of Science and Technology, visited three states in the USA from 27th August to 3rd September, 2018”.

Onu said he was happy with the new positive attitude being accorded to Science and Technology in the scheme of things by the present administration.

He further lauded the Executive Order 5, as a tool to promote patriotism and economic nationalism which in turn would usher in a new era of social engineering for the nation, adding that Nigerian firms in the next decade would actively compete with the best firms from other parts of the world for International projects.


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