The Federal Government has taken a significant step to bridge the gap between academic research and industrial application by inaugurating a high-powered committee dedicated to commercialising research from Nigeria’s tertiary institutions.
Unveiling the Research and Innovation Commercialisation Committee (RICC) in Abuja, the Minister of Education, Dr. Tunji Alausa, said the move aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda to reposition Nigeria as a globally competitive, knowledge-driven economy.
> “Nations leading in global competitiveness have prioritised research and innovation. This committee will connect our academic institutions to the private sector, unlocking revenue potential and international investment opportunities,” said Dr. Alausa.
The minister also highlighted ongoing investments by the Tertiary Education Trust Fund (TETFund), including central laboratories, renewable energy hubs, and advanced medical simulation centres across Nigerian campuses—initiatives designed to strengthen research infrastructure nationwide.
In a major boost for student-led innovation, the Federal Ministry of Education also launched a ₦50 million Student Grant Venture Capital Initiative, aimed at empowering students with viable business ideas. The fund, implemented through TETFund in collaboration with the Bank of India, targets 300-level students and above with market-ready innovations.
> “We are committed to nurturing student entrepreneurs and positioning them to compete globally,” the minister stated.
Chairing the newly inaugurated RICC is Dr. Tayo Aduloju, CEO of the Nigerian Economic Summit Group (NESG). He emphasized the urgency of integrating Nigeria’s academic talent with real-sector opportunities and lamented the country’s historically low investment in research as a percentage of GDP.
> “If ‘Nigeria First’ is the agenda, then innovation must be at its core,” Aduloju noted.
The committee features top minds from academia and industry, including Prof. Ibrahim Katampe, Dr. Umar Bindir, Prof. Sydney Ibeanusi, Dr. Detoun Ogwu, and representatives from the Ministry of Science and Technology, Bank of Industry, Manufacturers Association of Nigeria (MAN), and leading Nigerian universities.
This initiative marks one of the most comprehensive efforts by the federal government to transform research into tangible economic impact—advancing national development and empowering the next generation of Nigerian innovators.
