Federal Govt Moves To Boost Nigeria’s Economic Development Via NRIF

The federal government has intensified efforts to enhance Nigeria’s economic development by effectively deploying the National Research and Innovation Fund (NRIF) to boost the commercialisation of products.

Indications to this development emerged during the Third Stakeholders’ Consultation Workshop on the operationalisation of the NRIF in Abuja on Thursday, where policymakers, researchers, innovators, and private-sector actors gathered to deepen cooperation and strengthen institutional partnerships.

The workshop was organised by the Sheda Science and Technology Complex (SHESTCO) in collaboration with UNESCO under the UK–West Africa Science, Technology and Innovation Partnerships for Sustainable Development (SANKORE Project).

A communiqué issued at the end of the workshop said the intervention is designed to support the activation and operationalisation of the NRIF, enhance research commercialisation pathways, strengthen policy and governance frameworks, and align with Nigeria’s Renewed Hope Agenda, Presidential Order 5, as well as continental priorities under the African Union’s Agenda 2063.

This intervention, experts said, will facilitate sustainable funding for research and development, promote commercialisation of innovations and strengthen collaboration between academia and industry and make Nigeria the hub of knowledge-driven economy.

Speaking during the event, Permanent Secretary, Federal Ministry of Innovation, Science and Technology (FMIST), Mr Philip Ebiogeh, described the theme “Setting the Foundation and Defining Strategic Pillars for Nigeria’s Five-Year Strategy (2026–2030),” as apt stressing  the importance of science technology and innovation as the fulcrum of sustainable growth  in any country.

“This document, when finalised, the bill passed and the fund established, will take our country to the next level. Across the country, there are young innovators with enormous potential. Nigeria has talent, and this initiative will help bring them to the fore,” he said.

He noted that it has become necessary for Nigeria to build internal capacity rather than relying on external support, stressing that the technical work and consultations so far demonstrated readiness to translate policy into institutional action.

According to him, full operationalisation of the NRIF requires the passage of the National Research and Innovation Council Bill by the National Assembly of Nigeria.

“I want to assure you that the Ministry is fully committed. Because of our concern for the youth, we will ensure that everything required is done.

“We are hopeful that before the last quarter of the year, the process will be concluded, subject to timely legislative approval,” he said.

The Director-General of SHESTCO, Prof. Magaji Aliyu, said the proposed Science, Technology and Innovation (STI) bill is a critical legal framework that would guide STI programmes in the country adding that the bill would provide governance structures, institutional clarity and the legal backing required to implement innovation-driven initiatives.

Also speaking, STI Consultant to UNESCO, Prof. Willie Siyanbola, said the policy review was initiated by UNESCO and supported by the UK Foreign, Commonwealth and Development Office following an evaluation of Nigeria’s 2012 STI policy.