TETFund, Association Partner To Drive Nigeria’s Knowledge Economy

The Tertiary Education Trust Fund (TETFUND) and the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) have signed a Memorandum of Understanding (MoU) to foster research, innovation and the production of industry-ready graduates.

The executive secretary of TETFUND, Sonny Echono, at the signing of MoU in Abuja yesterday, said the partnership aligned with the federal government’s vision of creating an economy driven by the skills, enterprise and innovation of Nigerian youths.

Echono said the collaboration focuses on research, innovation, and producing graduates who are fit for purpose, ready to contribute effectively to the industry.

“It is central to the triple helix model we have championed and supports the President’s goal of harnessing Nigeria’s human and material resources for national development,” he added.

The MoU outlines several key objectives, including promoting research and innovation that address industrial and societal needs; facilitating the commercialisation of research outcomes; strengthening capacity building, skills development, and entrepreneurship initiatives; encouraging investment and joint ventures between academia and industry; supporting policy advocacy and knowledge sharing; and promoting job creation, startup growth, and inclusive innovation.

Echono emphasised the potential of the partnership to stimulate economic growth, stating that “if we harness the talent of our youths and equip them with critical thinking, cultural awareness, and problem-solving skills, we can not only advance Nigeria’s economy but also address global skills gaps.”

On his part, the national president of NACCIMA, Engr. Jani Ibrahim, stressed the critical role of industry-education collaboration.

Ibrahim highlighted the mutual benefits for NACCIMA and TETFUND, including structured access to the private sector, industry-informed research, internship and industrial attachment opportunities, and enhanced commercialisation of innovations.

“Development must be driven by knowledge, innovation, skills, enterprise, and strong industry-education partnerships. This MOU provides a bridge for graduates to gain practical skills and for research institutions to commercialise knowledge and contribute to national productivity.

“For the business community, this partnership will guide research priorities towards industry needs, build a more competent workforce, and ultimately enhance productivity, competitiveness, and investment,” he said.

He also noted that the collaboration aligns with President Bola Ahmed Tinubu Renewed Hope Agenda, which has strengthened TETFUND through improved funding efficiency, upgraded research infrastructure, and a focus on skills-driven and technology-based learning.

“This partnership reinforces the federal government’s commitment to an education sector that is innovative, industry-aligned, and globally competitive,” Ibrahim added.