TSF Hails $500m Research Fund, Says Move Signals Shift to Knowledge-Driven Economy

JOEL OLADELE, Abuja

The Tinubu Stakeholders Forum (TSF) has commended the Federal Government’s approval of a $500 million annual investment in the National Research and Innovation Development Fund (NRIDF), describing it as a major step towards repositioning Nigeria as a knowledge-driven and innovation-based economy.

The group said the policy represents one of the most significant interventions in Nigeria’s research and innovation landscape in recent history, with the potential to reshape the country’s long-term economic trajectory.

In a statement issued by its Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, TSF said the initiative reflects a deliberate shift towards productivity, industrial competitiveness and technology-led development.

According to the forum, Nigeria’s research ecosystem has for years suffered from chronic underfunding, weak institutional coordination, poor infrastructure and limited pathways for commercialising research outputs.

It noted that these structural challenges have contributed to the failure of many academic and scientific breakthroughs to translate into viable industries or economic value.

“The establishment of the NRIDF represents one of the most strategic national investments in research, innovation, science and technology in Nigeria’s modern history,” the group said.

TSF added that the country’s weak link between universities, research institutions and industry has significantly slowed the growth of a modern innovation economy.

It also observed that despite Nigeria’s large pool of intellectual capital and youthful population, investment in research and development has remained below global standards.

The group said this gap has also contributed to the migration of Nigerian scientists, engineers and technology experts to countries with stronger innovation funding systems.

Describing the new fund as timely, TSF said it directly addresses long-standing barriers that have limited innovation, productivity and industrialisation in the country.

The forum commended the Federal Government’s plan to connect universities, research institutes, startups, industries and policymakers under a coordinated national framework for innovation development.

It noted that the focus on competitive research grants, infrastructure development and commercialisation of research outputs reflects a global shift towards knowledge-based economic growth.

“Across the world, countries that achieved rapid industrialisation did so through sustained investment in research and development,” the group stated.

TSF warned that Nigeria cannot achieve sustainable industrialisation while remaining dependent on imported technology and raw material exports.

The group therefore described the $500 million annual commitment as a bold and strategic investment aligned with President Bola Ahmed Tinubu’s broader economic vision of building a $1 trillion economy.

It argued that no economy can reach such scale without strong investment in science, innovation, technology and industrial productivity.

According to the forum, the National Research and Innovation Development Fund is expected to strengthen manufacturing capacity, improve agricultural productivity, accelerate digital transformation and support renewable energy growth.

It also said the initiative would help improve healthcare delivery, deepen local value addition and create sustainable employment opportunities across sectors.

TSF welcomed the proposed governance structure of the fund under the Federal Ministry of Innovation, Science and Technology, with oversight by the National Council on Research and Innovation chaired by Vice President Kashim Shettima.

The group particularly praised the emphasis on commercialisation, noting that Nigeria’s longstanding challenge has been converting research output into marketable products and industries.

However, the forum stressed that the success of the initiative will depend on transparency, merit-based selection and strong institutional safeguards.

It urged the government to ensure that implementation is protected from political interference and guided by independent evaluation systems focused on scientific quality, innovation potential and economic impact.

TSF also called for complementary reforms in intellectual property protection, patent systems, laboratory infrastructure and innovation financing to support the transition of research from laboratories to industries.

The group maintained that with proper implementation, the fund could become a turning point in Nigeria’s drive towards a competitive, diversified and innovation-led economy.