Nigeria Launches National Research and Innovation Fund

The Federal Ministry of Science, Technology and Innovation (FMIST) has launched an agenda to operationalize the National Research and Innovation Development Fund (NRIDF) during a three-day national conference on science, technology, and innovation. Dr. Kingsley Tochukwu Udeh, the Minister of FMIST, emphasized the importance of science and technology as critical drivers for Nigeria's economic development and diversification.

The initiative aims to create a sustainable financial framework to accelerate research and industrial growth, ultimately leading to job creation and enhancing global competitiveness. Minister of State Bola Ahmed Tinubu acknowledged the necessity of collaboration among government, academia, and industry to translate research into commercially viable products.

The NRIDF is expected to serve as a catalyst for private sector participation in sustainable innovation financing. Dr. Mukhtar Yawal Muhammad, the Permanent Secretary of FMIST, noted the need for laboratories to become productive entities.

The conference brought together various stakeholders to discuss strategies for strengthening Nigeria's national innovation system.