Dr Kingsley Udeh, Minister of Innovation, Science and Technology, says the recent approval of National Research and Innovation Development Fund (NRIDF) signifies FG’s commitment to sustainable funding for research and innovation.
Udeh said this on Wednesday in Abuja at the ongoing workshop on Science, Technology and Innovation (STI) and the Renewed Hope Agenda.
The workshop is being organized by the UNESCO in collaboration with Sheda Science and Technology Complex, Abuja.
The NRIDF was recently approved by the Federal Executive Council (FEC).
Udeh said FEC’s approval of the fund marked a major milestone because it demonstrates that the Federal Government has come to terms in taking the lead in driving the initiative.
“The first thing I must do is to clarify the status of the National Research and Innovation Development Fund.
“What the Federal Executive Council did some days ago in approving the establishment of the fund, signals commitment at the highest level of government toward ensuring that the fund becomes a reality,” he said.
The minister explained that the idea of the fund had been championed for years by stakeholders within Nigeria’s science, technology and innovation ecosystem, including the Nigerian Academy of Science.
He said a private member bill on the National Research and Innovation Fund had already passed through the House of Representatives and was awaiting consideration by the senate.
He said the latest approval by FEC would accelerate the legislative process and increase the likelihood of presidential assent once the bill was passed by the National Assembly.
Udeh explained that executive bills generally enjoyed faster consideration and broader institutional support than private member bills.
“Now that the bill will be developed by the Office of the Attorney General of the Federation there will be stronger advocacy and momentum to ensure speedy passage and assent,” he said.
The minister described the current stage of the fund as an opportunity for broad stakeholder participation and input into its framework and implementation structure.
“The earlier stakeholders made their contributions, the better.
“The NRIDF is something I would like to leave behind as part of my legacy, and not just mine, but the legacy of all stakeholders in the STI ecosystem,” he said.
He said that the success of the fund would depend not only on having a strong legal framework, but also on effective implementation and stakeholder ownership.
According to him, the fund is expected to attract contributions from both the public, private sectors and the academia.
He said that private sector participation would largely depend on the extent to which research outcomes translate into profitable innovations, market solutions and commercial opportunities.
“We are not just talking about funding research for its own sake.
“We are focusing on research that connects directly to industry, commerce and market needs, research that can create jobs and help Nigeria achieve technological advancement,” he said.
Udeh said the NRIDF would also help bridge the long-standing gap between research outputs and commercialization in Nigeria.
According to him, many research and innovation outcomes across different sectors have failed to translate into products and services that impact industry and national development.
He explained that the proposed fund would operate across all levels of government and include stakeholders beyond universities and research institutes.
“State governments, local governments, research institutes, tech hubs, tertiary institutions, the private sector and even innovators in the informal sector will all be part of the ecosystem,” he said.
He commended stakeholders, development partners and private sector actor for sustained advocacy which he said contributed to FEC’s approval of the initiative.(NAN)
