The Federal Government has a signed a Memorandum of Understanding (MoU) with Biocrops Biotechnology Limited targeted at creating 10,000 jobs in the country.
Speaking on the occasion the Permanent Secretary, Federal Ministry of Science and Technology, Mr. Bitrus Nabasu, explained that the signing of the MoU would lead to immediate production of Nigerian developed and manufactured biotechnology products which includes bio-fertilisers, bio-pesticides, technology seeds and elite seedlings.
Nabasu said the partnership had already attracted N3.2billion in its phased implementation and expected to create about 10,000 jobs that were non-existence in the country earlier before now.
He noted that the ministry through its agencies has been forging and supporting collaborations among public and private institutions to facilitate development, equity investment in projects and access to new revenue and capacity to service delivery for the fulfillment of the visions and aspirations of the national science and innovation.
Mr Nabasu pointed out that Biocrops has brought synergies between farmers, top notch research institutions within the country, digital financial experts, novel market ready products and indeed game changers in the agricultural sector.
He, however, expressed Federal Government’s commitment towards making science and technology the hub on which the wheel of development revolves.
Also speaking, Managing Director of Biocrops, Dr. Joseph Odusanya, expressed joy in the signing of the MoU, adding that it would bring a turnaround in the agricultural development of the country.
Odusanya said the company had developed bio-insecticides, bio-fertilizers and bio-pesticides.
He said the company would introduce technology seeds that enable farmers to plant without the use of fertilizers.
The signing of the MoU was between the National Biotechnology Development Agency [NABDA], an agency under the Federal Ministry of Science and Technology and Biocrops Biotechnology Limited.
Biocrops, an indigenous and private biotechnology company is an Economic Recovery and Growth Plan[ERGP] Laboratory incubate of the Federal Ministry of Budget and National Planning with a focus on peri-urban agriculture and novel products.
Biocrops whose founding predates the establishment of NABDA, adopts a social business model to strengthening its relationship with its clients by focusing on value creation that is delivered in scaled production of assorted high-quality seeds and seedlings, scaled production of bio-fertilizers and pesticides.