FEC Approves National Research Innovation Fund in Nigeria

The Federal Executive Council (FEC) approved the establishment of the National Research Innovation Development Fund (NRIDF), a landmark initiative aimed at strengthening Nigeria's research, science, and technology innovation ecosystem. The NRIDF will be overseen by a seventeen-member National Council for Research and Innovation, chaired by the Vice President of Nigeria, with the Honourable Minister of Innovation, Science, and Technology, Dr. Kingsley Tochukwu Udeh, serving as the Vice Chairman.

The fund will operate under the supervision of the Federal Ministry of Innovation, Science, and Technology (FMIST), which will coordinate and provide institutional oversight for its implementation. Dr. Udeh expressed delight at the approval, describing it as a major breakthrough in the federal government's commitment to building an inclusive and sustainable innovation-driven economy.

He noted that while the approval marks a significant milestone, the fund will undergo necessary legislative processes before full implementation and disbursement can commence. Once fully operational, the NRIDF is expected to provide strategic funding to support research, innovation, and technology development across the country.