FG plans $500m university research fund

The Federal Government has unveiled plans to create a $500 million annual fund to strengthen university research and innovation. The Minister of Education, Tunji Alausa, stated this on Wednesday at a briefing in State House, Abuja. He described the initiative as a “game changer,” saying it is designed to unlock Nigeria’s research potential and support […]

The Federal Government has unveiled plans to create a $500 million annual fund to strengthen university research and innovation.

The Minister of Education, Tunji Alausa, stated this on Wednesday at a briefing in State House, Abuja.

He described the initiative as a “game changer,” saying it is designed to unlock Nigeria’s research potential and support President Bola Tinubu’s administration’s broader $1 trillion economic ambition.

He explained that the programme is anchored on the newly approved National Research and Innovation Development Fund (NRIDF), which is expected to grow to about $1 billion in subsequent years, following a Federal Executive Council (FEC) approval last week.

“The President directed that this agency won’t rely solely on regular budgets. We’re pursuing top-line funding mechanisms to generate about $500 million annually,” Alausa said.

He explained that the fund is designed to address persistent fragmentation in Nigeria’s research ecosystem by strengthening collaboration among universities, government institutions, and the private sector, while also driving the commercialisation of research outputs.

Alausa said global examples such as South Korea and Singapore demonstrate how coordinated, demand-driven research financing can accelerate economic transformation and industrial growth.

He said the initiative will prioritise competitive research grants, upgrading of laboratories, talent development pipelines, international research partnerships, and data-driven policymaking to align academic output with national development needs.

He added that the fund will be domiciled under the Federal Ministry of Innovation, Science and Technology and will operate with “minimal bureaucracy” to ensure efficiency and impact.

He said Vice President Kashim Shettima will chair the governing council, which will comprise representatives from relevant ministries, academia, research institutions, and the private sector.

Alausa further revealed that the Attorney General of the Federation has been directed to prepare an executive bill for submission to the National Assembly to provide legal backing for the framework.