Technologist urges FG to grant low interest loans, tax holidays to manufacturers.

Mr Victor Olomo, the Managing Director, Process Concepts and Technologies (PROCONTEC) Ltd, has urged Federal Government to consider granting low interest loans and tax holidays to manufacturers and exhibitors at the ongoing Science

and Technology Expo taking place in Enugu.

He made the call in a telephone interview with News Agency of Nigeria (NAN) on Wednesday.

Organised yearly by Federal Ministry of Science and Technology to encourage interaction among researchers, inventors, innovators and investors, the Science and Technology Expo was to largely commercialise research results from the country’s tertiary institutions.

The theme for the 2019 expo is “Science, Technology and Innovation for Economic Recovery and Sustainable Growth.”

Olomo, who said that the expo was an opportunity for indigenous manufacturers to showcase their products to the world, added that the event was also an avenue to link up government agencies especially in the area of research and development.

He said that the expo brought together people involved in technology from all sectors to showcase different resources available in the country, as well as

products they were able to add value to.

According to him, the principal source of the country’s foreign exchange is oil but

it cannot sustain the economy as many countries that buy the oil are going into non-fuel vehicles, hence the need to have alternatives.

“So, where do we go from there if we don’t develop our resources. Many developed countries also organise such expo at national and international level to

showcase what they have so as to attract patronage and collaboration,” he said.

He, therefore, urged the exhibitors to take advantage of the exposure to reach out to investors that could commercialize their products.

Source: BusinessDaily