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Nigeria has approved the establishment of the National Research and Innovation Development Fund (NRIDF), a major initiative aimed at transforming the country into a globally competitive, innovation-driven economy through sustained investment in research, science, and technology, the Ministry of Education announced on Saturday.
The approval was announced by the Minister of Education, Dr. Maruf Tunji Alausa, following the Executive Council meeting in Abuja.
Describing the initiative as a “game changer,” Alausa explained that the fund will address fragmentation in Nigeria’s research ecosystem by creating a coordinated framework linking universities, research institutes, industry, and government to national development priorities.
“The Fund will address fragmentation in Nigeria’s research ecosystem by creating a coordinated framework linking universities, research institutes, industry, and government to national development priorities,” the ministry said.
Alausa disclosed that authorities plan to provide annual funding of up to $500 million, making the NRIDF one of Nigeria’s most ambitious investments in research and innovation.
The fund will support competitive research grants, strengthen innovation infrastructure, promote commercialisation of research findings, and accelerate human capital development in science and technology.
The NRIDF will operate under the supervision of the Ministry of Innovation, Science and Technology, with oversight provided by a 17-member National Council on Research and Innovation, chaired by the Vice President.
Authorities reaffirmed their commitment to innovation-led growth, economic diversification, and job creation through sustained investment in research and development.
