Harnessing the Revenue Potentials of Biotechnology by the Public and Private Sectors by Prioritizing Research and Expenditure
International Journal of Agricultural Economics
Volume 4, Issue 6, November 2019, Pages: 275-278
Received: Oct. 31, 2019; Accepted: Nov. 12, 2019; Published: Nov. 25, 2019
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Dennis Chukwueloke Odeigah, Bio-resources Development Centre, National Biotechnology Development Agency, Abuja, Nigeria
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Biotechnology has been in existence for a long time, not too long after the creation of man. It serves to increase food production, improve healthcare, enhance the environment and atmosphere, and prevent global or isolated wars. Much has been studied and discovered about the science, but few progress has been made regarding its economics. This article or paper serves to highlight the economics or revenue that can be derived from practicing biotechnology, and enhancing its usage through the utilization of modern techniques by consulting secondary data to appraise results in the course of the research. The analysis mainly was to determine the secret towards making the biotechnology industry a profitable venture, while focusing on high demand areas or products, but nonetheless meeting the demands of the general populace out of empathy thus rendering the discipline a fair one and at the long run generally profitable. The survey revealed that biotechnology is a lucrative industry to be embarked upon by both public and private sectors. The following recommendations are proffered, that research and expenditure should be prioritized, while endeavouring to cover all areas out of empathy in order to enhance general public appreciability.
Biotechnology, Selective Breeding, Bioengineering, Hybridization, Anti-biotechnologists, Economics, Biofuels
To cite this article
Dennis Chukwueloke Odeigah, Harnessing the Revenue Potentials of Biotechnology by the Public and Private Sectors by Prioritizing Research and Expenditure, International Journal of Agricultural Economics. Special Issue: The Cinderella of Agricultural Sciences. Vol. 4, No. 6, 2019, pp. 275-278. doi: 10.11648/j.ijae.20190406.14
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