The Tinubu Stakeholders Forum (TSF) has described the Federal Government’s approval of a $500 million annual investment in the National Research and Innovation Development Fund (NRIDF) as a major step toward transforming Nigeria into a knowledge-driven economy.
In a statement issued by TSF Chairman Ahmad Sajoh and Secretary Danjuma Sada, the group said the initiative represents one of the most strategic investments in research, innovation, science, and technology in Nigeria’s recent history.
According to the Forum, the establishment of the NRIDF demonstrates a deliberate effort by the administration of President Bola Tinubu to build a productivity-driven, innovation-powered, and globally competitive economy.
TSF noted that Nigeria’s research ecosystem has for years been weakened by poor funding, obsolete infrastructure, weak collaboration between universities and industries, fragmented institutional coordination, limited venture financing, and inadequate intellectual property protection.
It lamented that many scientific discoveries and technological innovations produced in Nigerian universities and research institutions have failed to translate into scalable industries, commercial products, or broader economic value due to structural deficiencies within the system.
The group added that the disconnect between academia, industry, government institutions, and investors has undermined Nigeria’s industrial competitiveness and slowed the country’s transition into a modern knowledge economy.
The Forum further observed that Nigeria spends far below global benchmarks on research and development despite possessing vast intellectual capital and a youthful population.
According to TSF, years of weak investment in research infrastructure and innovation financing have also contributed to the migration of Nigerian scientists, engineers, researchers, and technology experts to countries with stronger support systems.
It therefore described the NRIDF as a bold and timely intervention capable of addressing key structural barriers limiting innovation, industrialisation, productivity, and economic diversification.
The Forum commended the Federal Government’s plan to establish a coordinated framework linking universities, research institutes, startups, industries, development institutions, innovators, and policymakers around national development priorities.
It also praised the emphasis on competitive research grants, innovation infrastructure, commercialisation of research outcomes, technology transfer, and human capital development.
TSF stated that countries which achieved rapid industrialisation and sustained economic growth did so through deliberate investment in research and development, stressing that Nigeria cannot achieve long-term competitiveness while depending heavily on imported technologies and raw commodity exports.
The Forum said the decision to commit up to $500 million annually to research and innovation aligns with President Tinubu’s vision of building a $1 trillion economy.
According to the group, a strong national innovation ecosystem is essential for expanding manufacturing capacity, strengthening food security, accelerating digital transformation, supporting renewable energy development, improving healthcare systems, and building globally competitive industries capable of generating jobs and export earnings.
TSF also welcomed the proposed governance structure for the fund under the Federal Ministry of Innovation, Science and Technology, alongside oversight by the National Council on Research and Innovation chaired by Vice President Kashim Shettima.
However, the Forum stressed that the long-term success of the initiative would depend on transparency, competitiveness, merit, institutional independence, and measurable outcomes.
It urged the Federal Government to insulate the implementation framework from political interference and establish rigorous independent review mechanisms for evaluating projects based on scientific quality, innovation potential, national relevance, commercial viability, and developmental impact.
The group further called for complementary reforms in intellectual property protection, patent registration systems, laboratory infrastructure, innovation financing, technology incubation support, and private sector incentives to ensure research outputs from Nigerian institutions are successfully commercialised.
