FG Approves $500 Million Annual Research and Innovation Fund to Boost Science and Technology

The Federal Government of Nigeria has approved the National Research and Innovation Development Fund (NRIDF), a new initiative that will provide up to $500 million annually to support research, science, technology and innovation across the country.

The approval was announced by Maruf Tunji Alausa following a meeting of the Federal Executive Council.

According to the minister, the fund is designed to address longstanding gaps in Nigeria’s research ecosystem by bringing together universities, research institutes, industry and government to focus on national development priorities.

The NRIDF will finance competitive research grants, innovation infrastructure, commercialisation of research findings and the development of science and technology talent.

Officials say the initiative is intended to strengthen the link between academic research and practical solutions that can drive industrial growth, improve productivity and enhance Nigeria’s competitiveness in the global knowledge economy.

The fund will be supervised by the Federal Ministry of Innovation, Science and Technology and governed by a 17-member National Council on Research and Innovation, which will be chaired by Vice President Kashim Shettima.

The government said the creation of the fund aligns with President Bola Ahmed Tinubu’s broader agenda to position Nigeria as a leading centre for knowledge, innovation and sustainable economic transformation in Africa.

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If fully implemented, the NRIDF would represent one of the largest public commitments to research and development in Nigeria’s history, with the potential to accelerate scientific breakthroughs, foster homegrown innovation and support the commercialisation of ideas across sectors such as healthcare, agriculture, manufacturing and digital technology.

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