Innovation Minister: FG Seeking Legal Backing for Sustained Funding of Research, Development
Emmanuel Ugwu-Nwogo in Umuahia The persistent lamentations from Nigerian universities and research institutions about poor funding of research and development (R&D) would soon become a thing of the past. This
The Nigerian federal government is charting a new course for research and development (R&D) funding, aiming to ensure sustained financial support to address the longstanding concerns of Nigerian universities and research institutions about inadequate resources for their work. Dr. Kingsley Tochukwu Udeh, the Minister of Innovation, Science and Technology, revealed plans to establish the National Research and Innovation Development Fund and Council, which would provide a steady stream of funding for R&D efforts targeting industrial growth and economic diversification.
The Minister confirmed that the Federal Executive Council has already approved the establishment of the fund and council, and they recently submitted a bill to the National Assembly for passage and presidential assent to grant legal backing to the initiative. The proposed legislation seeks to create a dedicated and consolidated source of funding for research and development, particularly for projects with commercial potential.
The federal government is also keen on encouraging private-sector investment in R&D, highlighting that private sector involvement could play a significant role. Dr. Udeh mentioned that Turkey's R&D funding model, wherein 60% of the country's R&D funding comes from the private sector, could serve as a benchmark. However, the minister stressed the importance of ensuring that research outcomes justify the funding input.
To achieve this, the government is collaborating with the education sector to ensure that research remains market-driven, rather than purely academic, driving the link between universities, research institutions, and industry or potential investors. The Minister announced the initiative to set up an innovation grid, hub or database in Nigeria, estimated to cost $18 million.
The database would catalog innovations and inventions originating from Nigerian universities and research institutions, making them accessible to investors and technology companies, thereby facilitating the identification of intellectual property and fostering engagement between researchers or institutions and potential collaborators.
The Minister of Innovation emphasized that this project does not require government budgetary funding, signaling the government's commitment to sustainable R&D funding mechanisms.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
