The Federal Government has announced plans to establish a $500 million annual funding mechanism for research and innovation as part of efforts to reposition Nigeria’s economy through science, technology and homegrown solutions.
Minister of Education, Tunji Alausa, disclosed this while briefing journalists following a recent Federal Executive Council (FEC) meeting, where approval was granted for the creation of the National Research and Innovation Development Fund (NRIDF).
Alausa, who was joined by the Minister of State for Education, Suwaiba Ahmed, described the initiative as a “game changer” capable of unlocking Nigeria’s research potential and supporting the administration of Bola Ahmed Tinubu in its ambition to build a $1 trillion economy.
According to him, the proposed fund will provide sustained financing for research, innovation and the commercialisation of discoveries across universities, research institutes and industry. He noted that the funding model would go beyond traditional budgetary allocations, with alternative mechanisms expected to generate up to $500 million annually.
The minister explained that the initiative is designed to address longstanding fragmentation within Nigeria’s research ecosystem by fostering collaboration between academia, government institutions and the private sector. He cited countries such as South Korea and Singapore as examples of nations that achieved rapid development through coordinated and well-funded research systems aligned with economic priorities.
He added that the fund will support competitive research grants, upgrade laboratories and infrastructure, promote the commercialisation of research outputs and build a pipeline of scientific talent. It is also expected to strengthen Nigeria’s participation in global research partnerships and improve evidence-based policymaking through enhanced data systems.
Alausa disclosed that the NRIDF will operate under the supervision of the Federal Ministry of Science, Innovation and Technology and will be structured to minimise bureaucratic bottlenecks. The governing council is to be chaired by Vice President Kashim Shettima, with representation from key ministries, academia, research institutions and the private sector.
He further revealed that the Attorney-General of the Federation has been directed to prepare an executive bill for transmission to the National Assembly to provide the necessary legal backing for the fund.
The minister credited Hadiza Bala Usman, Special Adviser to the President on Policy Coordination, for her role in developing the framework for the initiative over the past two years.
He added that the fund would help address longstanding concerns raised by academic unions over inadequate research funding, while ensuring that research outputs are aligned with national development priorities.
“Research and innovation are what drive development in every serious nation. Nigeria cannot continue to depend on fragmented and underfunded research systems if we want to compete globally,” Alausa said.
