The Federal Government has inaugurated a high-powered Ministerial Committee to drive the commercialisation of research outputs from Nigeria’s tertiary institutions.
Speaking at the inauguration of the Research and Innovation Commercialisation Committee (RICC) in Abuja on Tuesday, the Minister of Education, Dr. Tunji Alausa, said the initiative aims to bridge the gap between academia and industry, transforming homegrown research into commercially viable products and services.
Dr. Alausa noted that the move aligns with President Bola Tinubu’s Renewed Hope Agenda to shift Nigeria from a resource-based economy to a knowledge-driven one. “Nations that have achieved sustainable development and global competitiveness have done so by investing in knowledge creation and, more importantly, the effective commercialisation of research outputs,” he said.
The Minister highlighted that through the Tertiary Education Trust Fund (TETFund), the Ministry has already launched projects to boost research capacity, such as establishing central multipurpose laboratories, providing alternative energy solutions for campuses, and setting up medical simulation centres.
Despite having a vibrant academic community and decades of groundbreaking research, Nigeria continues to struggle to convert innovations into real-world solutions, he said. “The weak link between academia and industry has limited our ability to reap the enormous benefits of research. This committee will serve as a strategic bridge between both worlds,” he explained.
He added that commercialising research outputs would not only generate revenue for institutions and researchers but also improve Nigeria’s self-reliance, boost its innovation index, and attract international investment.
Dr. Alausa also announced a new N50 million Student Grant Venture Capital Initiative, to be managed by TETFund in collaboration with the Bank of India, to help scale student-led businesses in tertiary institutions. The scheme will target undergraduate students in 300-level and above with viable business models ready for market expansion. “We have hundreds of thousands of young geniuses across our institutions. This fund is designed to unlock their potential and help them build globally competitive enterprises,” he said.
In his remarks, the Committee Chairman, Dr. Tayo Aduloju, CEO of the Nigerian Economic Summit Group (NESG), described the RICC as “a matter of national urgency.” He pointed out that Nigeria’s investment in research, relative to its GDP, remains one of the lowest among peer nations. “If Mr. President’s ‘Nigeria First’ policy is to truly drive transformation, then innovation capital must lead the charge,” Aduloju said.
He stressed the need to create lasting institutional linkages between the private sector and academia. “The private sector has been disconnected for too long. We are committed to building institutional linkages that last beyond this Committee’s lifespan,” he said.
The Dip Connects Online News reports that the committee is chaired by Dr. Aduloju and includes members such as Prof. Ibrahim Katampe, Dr. Umar Bindir, Prof. Sydney Ibeanusi, Dr. Detoun Ogwu, and representatives from the Federal Ministry of Science and Technology, the Bank of Industry, the Manufacturers Association of Nigeria (MAN), and Nigerian universities, among others.
ADEOLA KUNLE
