The Tinubu Stakeholders Forum (TSF) has praised the Federal Government for approving $500 million yearly investment in the National Research and Innovation Development Fund (NRIDF), describing it as a bold step to reposition Nigeria as a knowledge-driven and innovation-powered economy.
In a statement signed by its Chairman, Ahmad Sajoh and Secretary, Danjuma Sada, the Forum said the project is one of the most strategic investments in research, science, technology and innovation in the history of Nigeria.
The TSF said the establishment of the NRIDF was a demonstration of the Tinubu administration’s intentional efforts at building an internationally competitive economy based on productivity, innovation and industrial growth.
The Forum observed that the Nigerian research ecosystem has been experiencing chronic underfunding, obsolete infrastructure, weak collaboration between academics and industry, poor commercialization frameworks, inadequate intellectual property protection and limited access to venture capital.
The committee noted that while there is a wealth of intellectual talent in Nigerian universities and research institutions, many scientific discoveries and technological innovations have not been converted into scalable industries, export opportunities or commercially viable enterprises that can drive economic growth.
TSF also decried the distance between academia, industry, government agencies and investors, saying it has undermined Nigeria’s industrial competitiveness and hampered the country’s transition into a contemporary knowledge economy.
The Forum said that the poor investment in research and development in Nigeria, compared to global norms, had also led to the increased migration of scientists, engineers, researchers and technology professionals to nations with stronger innovation support systems.
NRIDF is a crucial and transformative solution that directly addresses structural impediments impeding innovation, industrialization, productivity and economic diversification, stated TSF.
It commended in particular the Federal Government’s strategy for a co-ordinated structure of universities, research institutes, startups, industries, innovators, development partners and policy makers around clearly defined national priorities.
The Forum observes that the emphasis on competitive research grants, innovation infrastructure, technology transfer, commercialisation of research outputs and human capital development reflects an increasing awareness that modern economies are driven by knowledge, ideas and advanced technology.
TSF said countries that have experienced quick industrialization and durable growth did so via strategic investment in research and development. It noted that Nigeria cannot achieve long-term competitiveness while relying primarily on imported technologies and raw commodity exports.
The Forum consequently described the Tinubu administration’s promise to put up to $500 million a year into research and innovation as visionary and economically strategic.
It said that the NRIDF is in line with President Bola Ahmed Tinubu’s grand vision of developing a $1 trillion economy, pointing that no country ever achieves such economic scale without persistent investment in research, innovation, manufacturing and high-value knowledge sectors.
TSF said a strong innovation ecosystem will spur manufacturing, enhance productivity, improve food security, accelerate digital transformation, encourage renewable energy development, upgrade healthcare delivery, boost local value addition and develop industries that compete internationally to generate jobs and earn foreign exchange.
The Forum also commended the proposed governance structure of the fund under the Federal Ministry of Innovation, Science and Technology with monitoring by the National Council on Research and Innovation chaired by Vice President Kashim Shettima.
It was especially complimentary of the administration’s emphasis on commercialisation, noting that one of Nigeria’s key failings over the years has been the failure to translate intellectual capability into quantifiable economic value.
However, TSF warned that the credibility and sustainability of the project would depend on transparency, quality, competition, institutional independence and demonstrable outcomes.
The Forum called on the Federal Government to protect the implementation process from political interference and to establish independent review mechanisms to examine projects only on the basis of scientific quality, innovation potential, national significance, commercial viability and developmental impact.
TSF also called for complementary reforms in intellectual property protection, patent registration, laboratory infrastructure, innovation financing, technology incubation and private sector incentives to ensure that research outputs from Nigerian institutions successfully translate into industries, products and market opportunities.
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