We will be analyzing the science and technology budget of the Federal Ministry of Science and Technology. The budget is available here:
People, we are still far below. What Microsoft spends on R&D in a week covers what Nigeria budgets for the science and technology ministry.At around $9.5 billion, Microsoft puts more than in N1 trillion in R&D. One percent of that is about N10 billion. Alternatively, look at it from weekly R&D money. Let us say $19 billion per week for Microsoft – that is what the numbers work out to be. The total budget in the S&T Nigeria is not up to that weekly figure.
It is just unfortunate. We will be looking at the numbers closely and telling you what we expect in the agencies. The money is small because the salaries are eating the figures. Tekedia is at work and we are looking at them..
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Key immediate numbers are:
NATIONAL INFORMATION TECHNOLOGY DEVELOPMENT AGENCY (NITDA) gets only N6.5m for total capital
The big guy is NATIONAL SPACE RESEARCH AND DEVELOPMENT AGENCY – ABUJA which gets N730,165,405 for capital cost
But you know what? One Senator spends, monthly, what some of these agencies spend in year. Who is deceiving who?