Lagos Assembly seeks establishment of Research Trust Fund

….Sets up 7-man adhoc committee

The Lagos State House of Assembly has sought the establishment of a dedicated Research Trust Fund.

The lawmakers made the moves as the proposed bill scaled second reading and was committed to a seven-member ad hoc committee for further scrutiny.

Meanwhile, the prime sponsor of the bill, Hon. Gbolahan Yishawu (Eti-Osa 2) underscored the necessity for a structured and sustainable R&D funding system to drive innovation, economic growth, and technological advancement in Lagos.

“Lagos, as Nigeria’s economic hub, cannot afford to lag in scientific and technological development. A well-structured R&D funding system will enhance governance, stimulate industrialization, and position the state as a leader in innovation,” Yishawu said.

He highlighted key areas where research funding could make a transformative impact, including healthcare, agriculture, security, and smart city development.

Yishawu explained that the fund would foster economic diversification by supporting startups, universities, and research institutions to develop new products and services, creating thousands of high-value jobs.

“The fund will help local scientists and doctors conduct critical research, develop affordable medicines, and strengthen disease surveillance.

“Research in agritech and precision farming will improve food production, reduce reliance on imports, and support local farmers. 

“Investment in research will facilitate the development of intelligent traffic management, renewable energy, and eco-friendly urban infrastructure.

“Enhanced R&D will support innovations in AI-driven surveillance, biometric identification, and cybersecurity frameworks to improve public safety”, said Yishawu.

Yishawu urged lawmakers to support the bill, stressing that the innovation is a necessity, not a luxury.

“If Lagos is to maintain its status as a centre of excellence, we must create a dedicated R&D funding system. This House must take decisive action to ensure that Lagos remains a leader in science, technology, and industry,” he declared.

In his contributions, Hon. Ajani Owolabi (Lagos Mainland 1) emphasized the need for state universities to be actively involved in research and have direct access to funding.

Similarly, Hon. Aro Moshood (Ikorodu 2) proposed that the private sector should be encouraged to sponsor research as part of their Corporate Social Responsibility (CSR).

Also, Hon. Abiodun Tobun (Epe 1) warned against excessive taxation hindering research efforts and advocated for tax exemptions for researchers and research institutions.

The House is expected to receive the ad hoc committee’s report in the coming weeks before making a final decision on the bill.