TSF hails $500m research fund, says Nigeria embracing knowledge economy
The Tinubu Stakeholders Forum (TSF) has commended the Federal Government’s approval of a $500 million annual investment in the National Research and Innovation Development Fund (NRIDF), describing it as a major step toward building a knowledge-driven economy.
In a statement signed by its chairman, Ahmad Sajoh, and secretary, Danjuma Sada, the forum said the initiative represents a strategic investment in research, science, technology and innovation capable of transforming Nigeria’s economic future.
The forum noted that Nigeria’s research ecosystem has suffered for years from poor funding, obsolete infrastructure, weak industry collaboration, poor intellectual property protection and limited commercialisation opportunities for research outputs.
According to TSF, the disconnect between academia, industry, government institutions and investors has weakened Nigeria’s industrial competitiveness and slowed the country’s transition into a modern knowledge economy.
“The establishment of the NRIDF represents one of the most strategic national investments in research, innovation, science and technology in Nigeria’s modern history and signals a deliberate shift toward building a productivity-driven, innovation-powered and globally competitive economy,” the statement said.
The group added that despite Nigeria’s vast intellectual capacity and youthful population, the country continues to spend below global standards on research and development, leading to the migration of scientists, engineers and technology experts to countries with stronger support systems.
TSF said the new fund aligns with President Bola Tinubu’s vision of building a $1 trillion economy, stressing that no nation achieves sustainable industrial growth without investment in science, innovation, technology and advanced research.
The forum, however, urged the Federal Government to ensure transparency, merit and institutional independence in the implementation of the initiative, while also calling for reforms in intellectual property protection, patent systems, laboratory infrastructure and innovation financing to guarantee long-term success.
