Onu said this during a visit to the Federal Institute of Industrial Research, Oshodi, Lagos.
The minister, who also went on a tour of the institute, encouraged members of staff to consider their duties as important to nation building.
He added that there should be a link between research institutes and the market.
One stated, “The time has gone when no financial benefit came to those who contributed to research. This will help our scientists and engineers to be financially independent from their intellectual property. That is why we have to protect our intellectual property; we want to commercialise our findings.
“We want our products in the market and there must be a linkage between research institutes and the market. That is the only way we can create jobs. Your job is very important and what you do here has tremendous impact not just on the ministry but on Nigerians.”
The minister, who blamed the falling oil price and militants for the dwindling revenue accruable to the country, commended President Muhammadu Buhari for his economic reforms.
“Our situation would have been far worse than Venezuela. We have seen the indices and we must commend President Buhari for certain difficult decisions. We have been given 2.2mbpd as our quota by the Organisation of Petroleum Exporting Countries, but now we are only able to sell 1.2mbpd. We are losing money from reduction in price and shrinkage in volume,’’ he said.
The Director-General, FIIRO, Dr. Gloria Elemo, said the institute had developed more than 250 technologies, which could create five million jobs.
She appealed for funds and constant electricity supply to the institute, adding that some of the products of the institute, including its high-density biscuit and drink, could combat malnutrition if adopted as a component of the Federal Government’s school feeding programme.
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