FG moves to establish tech park to accelerate economic growth
By Damilare Adeleye
The Federal Government has unveiled plans to establish a world-class National Advanced Skills and Technology Park as part of efforts to fast-track Nigeria’s transition to a knowledge-driven economy.
The Minister of Innovation, Science and Technology, Kingsley Tochukwu Udeh, disclosed this during a high-level meeting with a global investor group led by entrepreneur Isaac Chuks, founder of New Festac Property Development Company.
According to a statement issued by the ministry’s Head of Press and Public Relations, Pauline Sule, the investors demonstrated strong commitment to the project by offering a prime site in Lagos for the proposed technology hub.
The statement noted that the initiative aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, with a focus on driving inclusive economic growth, strengthening national capacity in science, technology, and innovation (STI), and positioning Nigeria towards achieving a $1 trillion Gross Domestic Product (GDP).
Describing the project as a flagship national asset, the Minister said it would serve as a catalyst for cutting-edge research, innovation, and commercialisation, with emphasis on STEM, artificial intelligence, biotechnology, engineering, and environmental sustainability.
He added that the initiative is expected to build a globally competitive workforce and deepen Nigeria’s technological capabilities.
Udeh also reaffirmed the government’s commitment to leveraging Public-Private Partnerships (PPP) to deliver critical STI infrastructure, noting that collaboration with credible investors remains essential to accelerating innovation-driven development.
The project, to be sited in FESTAC Phase II, Lagos State, is being developed in partnership with New Festac Development Limited.
The ministry described the initiative as a major step toward establishing a national ecosystem for advanced skills development, industrial innovation, and sustainable economic transformation.
It reiterated its commitment to implementing high-impact initiatives aimed at strengthening Nigeria’s innovation landscape, unlocking economic opportunities, and positioning the country as a leading technology hub in Africa.