The International Institute for Training, Research and Economic Development (IITRED) says the agricultural research innovation technology, designed to produce high yield, can generate N24 billion in foreign exchange for Nigeria.
It says the target can be achieved when fully commercialised.
It also said that the technology would help the clean up of the Nigeria- Delta due to its absorbent capacity of managing oil spill in the Niger-Delta area
The information is provided in a statement by Sani Dawop in Abuja on Wednesday.
Dawop said that IITRED was an international, independent and non-profit making organization.
He said that the organization was designed to provide value training and conduct issue based research.
The institute organises conferences, seminars; specialises in training programmes for capacity building to address human and environmental challenges .
He said the institute would organise its annual award seminar in its series on Thursday at Transcorp Hilton hotel, Abuja.
According to him, the theme of the event, “Bringing Nigeria Agricultural Research into use”, would feature presentations by renowned researchers and notable public officials.
The 2016 IITRED research Prize Winner is Morufat Balogun of the University of Ibadan, while IITRED honours award is Dangote Sugar and NASCO Cornflakes
