Tinubu
The Federal Government has approved the establishment of a National Research and Innovation Fund aimed at boosting financing for research, technology development, prototyping, scale-up, and commercialisation across the country.
Dr. Mukhtar Muhammad, Permanent Secretary of the Federal Ministry of Innovation, Science and Technology, announced the approval on Thursday in Lagos during the second National Technology and Innovation Summit (NTIS 2.0).
Organised by the National Office for Technology Acquisition and Promotion (NOTAP), the summit was themed “From Research to Wealth: Strengthening Innovation, Commercialisation and Technology Sovereignty in Nigeria.”
Moving Research from Shelves to Markets
Speaking at the event, Muhammad highlighted that the new fund will bridge the critical gap between research outputs and market-ready products, services, and technologies. He emphasized that while Nigeria possesses abundant talent and research capacity, stronger links between research, industry, investment, and markets remain vital.
“Research must move beyond academic publications and laboratory shelves to become products, enterprises, and solutions capable of generating wealth,” Muhammad said, identifying finance, intellectual property protection, technology transfer, infrastructure, and technical skills as crucial drivers of commercialization.
He reiterated the government’s commitment to building indigenous capacity, asserting that technology sovereignty—developing critical technologies locally without isolating Nigeria from global partnerships—is essential for national independence.
“Technology acquisition should facilitate knowledge transfer, skill development, local content adaptation, and progressive technological independence,” he noted, adding that young Nigerians need access to financing, mentorship, laboratories, and prototyping facilities to drive the innovation economy.
Also speaking at the summit, the Secretary-General of the Committee of Vice Chancellors of Nigerian Universities (CVCNU), Prof. Andrew Haruna, represented by Prof. Olatunji Oladiran addressed the chronic underfunding and weak industry partnerships hampering Nigerian higher institutions.
Haruna noted that limited research grants and low commercialization rates continue to constrain the impact of academic research. He urged universities to view research not merely as an academic obligation, but as an asset and pathway to solving national challenges.
Both speakers commended NOTAP for convening the summit and fostering collaboration between academia and industry. They urged stakeholders to ensure the summit’s recommendations translate into practical policies that will enhance the global competitiveness of Nigerian research and drive sustainable economic growth. (NAN)
