The Federal Government has approved the establishment of the National Research and Innovation Development Fund (NRIDF), a landmark initiative aimed at transforming Nigeria into a globally competitive, innovation-driven economy through sustained investment in research, science, and technology.
The approval was announced by the Minister of Education, Maruf Tunji Alausa, following the Federal Executive Council meeting held in Abuja.
Describing the initiative as a “game changer,” the Minister said the Fund would address fragmentation within Nigeria’s research ecosystem by creating a coordinated framework linking universities, research institutes, industry, and government to national development priorities.
According to him, the Federal Government plans to provide annual funding of up to $500 million for the scheme, making the NRIDF one of the country’s most ambitious investments in research and innovation.
Alausa explained that the Fund would support competitive research grants, strengthen innovation infrastructure, promote the commercialisation of research findings, and accelerate human capital development in science and technology.
He added that the NRIDF would operate under the supervision of the Federal Ministry of Innovation, Science and Technology, while oversight would be provided by a 17-member National Council on Research and Innovation chaired by the Vice President.
The Federal Government reaffirmed its commitment to innovation-led growth, economic diversification, and job creation through sustained investment in research and development.
The initiative is expected to enhance collaboration among academia, industry players, and government institutions, while positioning Nigeria as a major hub for scientific advancement and technological innovation in Africa.
