Research And Nigeria’s Quest For Economic Diversification

Nigeria is at a critical juncture. With a population of over 200 million, and more than 50% living in poverty, the country desperately needs economic diversification and job creation to lift its citizens out of hardship.
Indeed, the pathway to sustainable, inclusive growth for Nigeria lies in research, development, and innovation.
At a recent event, the Academic Staff Union of Research Institutions (ASURI) blamed the country’s poverty status, and its designation as the poverty capital of the world, on the dearth of research.
It argued that, considering the critical roles research plays in exploring new knowledge and improving existing scenarios towards enhancing institutional and national development, adequate funds ought to be channelled into research.

Economists have argued that private sector investment and innovation are key drivers of job creation and holistic economic expansion.
However, Nigeria significantly lags in these areas. The country spends a mere 0.2% of its GDP on research and development, compared to the 2-4% in developed countries. This underinvestment in the research ecosystem has stunted Nigeria’s progress.

The Nigerian economy, a mono-economy, depends mainly on crude oil as its major revenue source since the discovery of crude oil in 1956.
However, if crude oil were what made a country rich, Japan would be the poorest country in the world, as it lacks oil. Instead, Japan thrives on science and technology.
In our view, economic diversification is the only viable way to survive the current era of global economic uncertainty, which has been exacerbated by the volatility of the global oil price, naira depreciation, and fuel subsidy removal by President Bola Tinubu.
The World Bank, in its recent 2024 global outlook, said Nigeria is facing sluggish job growth and a slower GDP

growth of 3.2%.

Now, more than ever, there is a need to see research as a tool for development, even though our country’s research institutions have not lived up to their billing over the years, given the fact that research, revolution, and development are the driving forces for the economic and social development of every country.
The problems besieging Nigeria – unemployment, poverty, healthcare access, environmental degradation – all have solutions that innovation can unlock. But this demands investing in the creators and builders of the future.

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This newspaper is aware of the lean allocations to these research institutes, despite the huge responsibilities and outputs expected from them. However, they have not justified even the little they have received.
For years, the association of these research institutes fought to be included for financial considerations in the Tertiary Education Trust Fund (TETFund) budget. However, the Academic Staff Union of Universities (ASUU) and even TETFund itself said no, the reason being that it has its hands full.
Meanwhile, the Science and Technology Policy, which made provisions for the National Research and Innovation Council and National Research Fund, has been on the drawing board since the 60s and has been reviewed 12 times without implementing the major component, which is the research council to coordinate and fund research in the country.

Though research institutions like the National Institute for Pharmaceutical Research and Development (NIPRD) have developed promising innovations like Niprisan for treating sickle cell anemia, lack of funding and support has prevented their scaling and commercialisation.
Most governments worldwide consider innovation performance critical to competitiveness and national progress, and the common interest of all countries in scientific research is embodied in their understanding of their role in confirming the well-being of human civilization. Nigeria should not be an exception.
While we draw the attention of the government to these all-important professionals, a lot is desired from our research institutes, some of which reach the grassroots.

It is a well-known truth that the government alone cannot adequately fund all sectors of the economy, hence the need for our researchers to think outside the box and explore consultancy and collaboration with multinationals.
We also call for synergy between research institutes and universities, as in other climes, university lecturers go to research institutions for their sabbaticals when the facilities are available.
In our view, if a lecturer from a university wants to conduct research that covers the whole country, how would they go about it if they don’t collaborate with, for instance, the Raw Materials and Research Development Council (RMRDC) to reach the grassroots?

Furthermore, the National Research and Innovation Council bill awaiting passage must be urgently enacted. We call on the National Assembly to approve this bill without further delay.
With the right strategic investments in human capital, research infrastructure, and policy incentives, Nigeria can transition from a commodity economy to an innovation powerhouse. Oil will run dry, but human ingenuity is limitless.