Senators in session
A bill seeking to establish the National Research and Innovation Development Fund and National Council on Research and Innovation on Thursday scaled second reading in the Senate.
The proposed legislation, sponsored by Senate Leader Opeyemi Bamidele, representing Ekiti Central, sought sustainable funding and coordination for research, indigenous technology development and commercialisation nationwide.
The National Research and Innovation Development Fund Establishment Bill, 2026 (SB. 1069), aims to bridge the gap between academic research and practical industrial applications.
Presenting the bill on Bamidele’s behalf, Senate Chief Whip, Sen. Mohammed Monguno, representing Borno North, described research and innovation as essential to national development.
Monguno said Nigeria had universities, polytechnics, research institutes and technology entrepreneurs, but inadequate funding and weak coordination constrained their contributions to economic growth.
He explained that the proposed fund would finance research and innovation, while the council would provide strategic direction, policy oversight and supervision.
According to him, the legislation will support emerging technologies, research infrastructure and a national database documenting research, development and innovation resources and outputs.
Monguno said Section 19 proposed funding through annual contributions of 20 per cent from the Nigerian Content Development Fund, government appropriations, grants and commercialisation proceeds.
He added that Section 20 covered research grants, infrastructure, product development, prototyping, intellectual property acquisition, technology transfer and capacity building across relevant sectors.
The bill proposes limiting administrative expenditure to 2.5 per cent of annual contributions from the Nigerian Content Development Fund to preserve resources for research.
Monguno said accountability provisions included financial reporting, auditing, annual reports and oversight, alongside penalties for grant diversion, false information and conflicts of interest.
Supporting the bill, Sen. Adetokunbo Abiru, representing Lagos East, described the proposed fund as an important mechanism for encouraging creativity and supporting researchers.
Abiru said dedicated funding and a coordinating council would provide more reliable financial support for innovative ideas across different sectors of the Nigerian economy.
Sen. Diket Plang, representing Plateau Central, said the legislation could address poor implementation of research findings and strengthen university-industry collaboration and commercialisation.
Plang said adequate funding would help transform research into marketable products, stimulate economic growth, create employment opportunities and accelerate technological advancement nationwide.
Also supporting the bill, Sen. Ekong Samson, representing Akwa Ibom South, said sustained research investment would strengthen education, encourage innovation and improve Nigeria’s competitiveness.
Ekong emphasised accountability and intellectual property protection, while urging senators to support the legislation as a catalyst for addressing national development challenges.
Following deliberations, the Senate passed the bill for second reading through a voice vote.
Senate President Godswill Akpabio referred it to the Senate Committee on Tertiary Institutions and TETFund for further consideration and report within four weeks.(NAN)
