The Federal Government has approved the establishment of the National Research and Innovation Development Fund (NRIDF) as part of efforts to position Nigeria as a globally competitive, innovation-driven economy through sustained investment in research, science, and technology.
The approval was announced by the Minister of Education, Dr Maruf Tunji Alausa, following the Federal Executive Council meeting in Abuja.
Describing the initiative as a “game changer,” the minister said the Fund would address longstanding fragmentation within Nigeria’s research ecosystem by creating a coordinated framework that links universities, research institutes, industry, and government to national development priorities.
According to him, the Federal Government plans to commit annual funding of up to $500 million to the initiative, making the NRIDF one of the country’s most ambitious investments in research and innovation.
Dr. 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 minister noted that the initiative reflects the Federal Government’s broader commitment to innovation-led growth, economic diversification, and job creation through sustained investment in research and development.
Analysts say the establishment of the Fund could significantly boost collaboration between academia and industry, while helping Nigeria strengthen its capacity in critical sectors such as technology, healthcare, agriculture, manufacturing, and renewable energy.
