Tertiary Education Trust Fund (TETFund) has received the draft executive Bill for the establishment of the National Research and Development Foundation (NRDF).
The executive secretary of TETFund, Prof Suleiman Bogoro, who received the draft law from the TETFund NRDF Bill Drafting Committee in Abuja, on Wednesday, commended the Attorney General of the Federation (AGF), Abubakar Malami (SAN), for drafting staff of the Justice Ministry for the task.
Bogoro said with the draft bill already submitted, a foundation has been laid for driving Nigeria’s knowledge-driven economy, adding that the country has no option than to embrace knowledge in its pursuit of economic development.
He noted that the document is clear on what it intends to accomplish, which is the establishment of a national research and development foundation that would coordinate research efforts in the country to usher it into a knowledge-based economy.
While applauding the committee for its efforts and saying it was on a historic mission for the country, he noted that each of the persons invited to the R&D committee was mandated to make a specific contribution for the country.
The TETFund boss said Nigeria’s economy couldn’t be competitive if it does not institutionalise research and development.
“When we lack the fidelity to implement our policies and lack the discipline to enforce our laws, it is precisely why Nigeria has failed. We have failed to attain our potential as a nation because of some of these areas.
According to him, there is need to rejig and reflect over the issue of governance in government and academic institutions, adding that many times, the area of appropriate governance at all levels has failed the nation.
Earlier, the chairman of the Drafting Committee, Prof Auwalu Yadudu, said the committee was inaugurated two months ago to draft an executive bill for the establishment of the research and development foundation.
“The Bill seeks to establish a national research and development foundation to institutionalise, mainstream and commercialise research and development, promote innovation and support enterprise development for job and wealth creation for a knowledge-driven economy for Nigeria,” Yadudu stated.