The Federal Government has intensified efforts to operationalise the National Research and Innovation Development Fund (NRIDF) following its recent approval by the Federal Executive Council (FEC), with key officials meeting to advance the legal framework for its implementation.
The Minister of Education, Dr. Tunji Alausa, disclosed that he held a strategic meeting with the Special Adviser to the President on Policy and Coordination, Mrs. Hadiza Bala Usman, and the Minister of Innovation, Science and Technology, Dr. Kingsley Tochukwu Udeh (SAN), to discuss the next phase of the initiative.
According to Alausa, the meeting focused on drafting the Executive Bill that will establish the legal and governance framework for the Fund, paving the way for its effective operation as a sustainable national platform for financing research, innovation and the commercialisation of ideas.
Alausa described the initiative as a landmark step in Nigeria’s quest for academic, scientific and technological advancement.
“Nigeria stands at a defining moment in its journey towards academic, scientific and technological excellence. The NRIDF will strengthen research institutions, accelerate homegrown innovation, deepen collaboration between academia and industry, and support the development of solutions that drive economic growth, create high-value jobs and improve the lives of Nigerians. It is a key step in transforming Nigeria from a resource-based economy into a knowledge-based economy, in line with President Bola Ahmed Tinubu’s vision of building a $1 trillion economy,” he said.
The minister said the Fund would serve as a long-term investment in the country’s future by empowering researchers, innovators and entrepreneurs to develop solutions to national challenges and unlock new economic opportunities.
“This Fund is far greater than any one institution or individual. It is an investment in Nigeria’s future and a lasting legacy that will empower generations of researchers, innovators and entrepreneurs to solve our nation’s greatest challenges, unlock new opportunities and position Nigeria as a global leader in research and innovation,” Alausa added.
He also commended Hadiza Bala Usman and Udeh for their collaboration and commitment to the successful implementation of the initiative, expressing confidence that the partnership would help advance the Renewed Hope Agenda through innovation-driven national development.
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