A group, The Tinubu Stakeholders Forum (TSF) has hailed the Federal Government’s approval of a $500 million annual investment in the National Research and Innovation Development Fund (NRIDF).
In a statement by its Chairman Ahmad Sajoh and Secretary Danjuma Sada, it described the initiative as a transformational economic policy intervention capable of redefining Nigeria’s future growth trajectory.
“The establishment of the NRIDF represents one of the most strategic national investments in research, innovation, science, and technology in Nigeria’s modern history and signals a deliberate shift toward building a productivity-driven, innovation-powered, and globally competitive economy.
“This is because Nigeria’s research ecosystem has long been held back by underfunding, obsolete infrastructure, weak industry collaboration, fragmented institutional coordination, weak intellectual property protection, poor commercialisation pathways, and limited venture financing.
“As a result, many promising scientific discoveries, engineering solutions, technological innovations, and academic breakthroughs produced within Nigerian universities and research institutions have failed transition into scalable industries, commercial products, manufacturing solutions, export opportunities, or large-scale economic value,” it said.
TSF noted that this long-standing disconnect between academia, industry, government institutions, and investors has significantly weakened Nigeria’s industrial competitiveness and slowed the country’s transition into a modern knowledge economy.
“The Forum further observes that despite Nigeria’s vast intellectual capital and youthful population, the country continues to spend far below global benchmarks on research and development, with limited mechanisms for converting research outputs into commercially viable enterprises capable of driving GDP growth and industrial expansion.
“The Forum notes that years of weak investment in research infrastructure and innovation financing have also contributed significantly to the growing migration of Nigerian scientists, researchers, engineers, and technology talents to foreign economies offering stronger support systems.
“This is why TSF considers the National Research and Innovation Development Fund a bold and timely intervention that directly addresses some of the structural barriers limiting innovation, productivity, industrialisation, and economic diversification in Nigeria.
“We particularly commend the Federal Government’s commitment to creating a coordinated framework that links universities, research institutes, startups, industries, development institutions, innovators, and policymakers around clearly defined national development priorities.
“The emphasis on competitive research grants, innovation infrastructure, commercialisation of research outcomes, technology transfer, and human capital development reflects a growing understanding that modern economies are increasingly driven by ideas, knowledge systems, advanced technology, and the ability to transform innovation into measurable economic value.
“Across the world, countries that achieved rapid industrialisation and sustained economic growth did so through deliberate and sustained investment in research and development.
“Nigeria cannot realistically achieve sustainable industrialisation, technological advancement, or long-term competitiveness while remaining heavily dependent on imported industrial systems, foreign technologies, and raw commodity exports.
“We therefore view the Tinubu administration’s decision to commit up to $500 million annually to research and innovation as both visionary and economically strategic.
“The Forum further notes that the NRIDF directly supports President Bola Ahmed Tinubu’s broader vision of building a $1 trillion economy. No nation achieves trillion-dollar economic status without sustained investment in science, innovation, industrial productivity, advanced research, technology development, and high-value knowledge sectors.
“A strong national innovation ecosystem is essential for expanding manufacturing capacity, improving productivity, strengthening food security, accelerating digital transformation, supporting renewable energy development, improving healthcare systems, deepening local value addition, and building globally competitive industries capable of generating quality jobs, export earnings, and long-term economic resilience.
“We welcome the proposed governance structure for the fund under the Federal Ministry of Innovation, Science and Technology, alongside oversight by the National Council on Research and Innovation chaired by Vice President Kashim Shettima.
“The Forum is particularly encouraged by the government’s emphasis on commercialisation because one of Nigeria’s biggest weaknesses over the years has been the inability to translate intellectual capacity into measurable economic outcomes.
“TSF however emphasises that the credibility and long-term success of the initiative will depend heavily on transparency, merit, competitiveness, institutional independence, and measurable outcomes.
“We therefore urge the Federal Government to ensure that the implementation framework for the fund is insulated from political interference and supported by rigorous independent review mechanisms capable of evaluating projects strictly on scientific quality, innovation potential, national relevance, commercial viability, and measurable developmental impact,” it added.
The Forum also called for complementary reforms in intellectual property protection, patent registration systems, laboratory infrastructure, innovation financing, technology incubation support, and private sector incentives to ensure that research emerging from Nigerian institutions successfully moves from laboratories into industries and markets.
