The Federal Government has approved the establishment of the National Research and Innovation Development Fund (NRIDF), a landmark initiative designed to transform Nigeria into a globally competitive, innovation-driven economy through sustained investment in research, science, and technology.
The approval, granted by the Federal Executive Council, was announced by the Honourable Minister of Education, Dr. Maruf Tunji Alausa, CON, during a briefing with State House correspondents at the Presidential Villa, Abuja.
Describing the initiative as a “game changer,” Dr. Alausa said the Fund will address longstanding fragmentation in Nigeria’s research ecosystem by creating a unified framework that aligns universities, research institutes, industry, and government with national development priorities.
The Minister revealed that the Federal Government is committed to sustainable annual funding estimated at up to `$500 million, positioning the NRIDF as one of the country’s most ambitious investments in research and innovation.
According to Dr. Alausa, the Fund will support competitive researchgrants, strengthen innovation infrastructure, promote the commercialisation of research findings, and accelerate human capital development in science and technology. He noted that lessons from global innovation leaders such as South Korea and Singapore informed the initiative’s design.
The NRIDF will operate under the supervision of the Federal Ministry of Innovation, Science and Technology, with governance provided by a 17-member National Council on Research and Innovation chaired by the Vice President
Membership will include representatives from key ministries, academia, professional bodies, and the private sector, while day-to-day operations will be managed by a Chief Executive Officer supported by technical committees.
Dr. Alausa further disclosed that an Executive Bill will be transmitted to the National Assembly to provide the Fund with full legal backing and ensure long-term sustainability.
He emphasised that the initiative represents a strategic national investment aimed at driving scientific advancement, industrial growth, economic diversification, and job creation through innovation-led development.
The Minister expressed appreciation to President Bola Ahmed Tinubu for his visionary leadership and commitment to education-driven national transformation, stating that the approval signals a bold new era for research excellence and innovation in Nigeria.
Boriowo Folasade
Director, Press and Public Relations
