The Federal Government is to set up specialised bank to assist innovators and entrepreneurs in science and technology ventures in Nigeria, Dr Ogbonnaya Onu, Minister of Science and Technology says.

The Minister dropped the hint at the maiden edition of the International Workshop on Science Parks and Innovation Eco-system for National Development at the University of Nigeria, Nsukka.

The four-day workshop started on February 21, this year and organised by University of Nigeria, Nsukka, was attended by over 100 lecturers across Nigeria and African universities including investors.

On the issue of the delay in the coming on board of the specialized bank, Onu says it was caused by the economic recession in the country and insufficient fund, adding that the bank should have commenced earlier.

“But I believe that with the picking up of the economy and other economic activities now, I believe it would not be long, it would be a reality” he tells attendees at the event.

He further stated that stakeholders and government have been on the specialised bank project, pointing out that the advent of the bank will solve issue of funding for innovations, science and technology.

The Federal Government has made development in science and technology, the centerpiece of its economic recovery and growth plan, the Minister adds.

Assuring the University of Nigeria, Nsukka, the Minister promised to send heads of parastatal agencies under his ministry to discuss the development of its science park programme and other technology-driven programmes.

According to him, “the ministry and its agencies will assist you in various ways to ensure that we build the capacity of young inventors and innovators”

He also wants young innovators to ensure that their works and the secret of their works are protected against intellectual theft.