Abuja, Nigeria — The Federal Government has inaugurated a Ministerial Committee to spearhead the commercialisation of research outcomes from Nigeria’s tertiary institutions.
The committee, known as the Research and Innovation Commercialisation Committee (RICC), was unveiled by the Minister of Education, Dr. Morufu Olatunji Alausa, during a ceremony held yesterday in Abuja.
Dr. Alausa explained that the initiative is part of efforts to bridge the longstanding gap between academic research and industry, turning Nigerian innovations into commercially viable products. He noted that the move aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritises shifting Nigeria towards a knowledge-based economy.
“The transformation of research into tangible solutions is the hallmark of developed nations. Nigeria must follow suit,” he stated.
The committee is chaired by Dr. Tayo Aduloju, CEO of the Nigerian Economic Summit Group (NESG), and includes members from academia, industry, and key government institutions such as the Bank of Industry, the Federal Ministry of Science and Technology, the Manufacturers Association of Nigeria (MAN), and various universities.
Dr. Alausa said that through the Tertiary Education Trust Fund (TETFund), several initiatives have already been implemented, including the provision of central laboratories, alternative energy solutions, and medical simulation centres. However, he acknowledged that research in Nigeria is often underutilised due to weak links between universities and the private sector.
“This committee will serve as a vital bridge to unlock the commercial potential of Nigerian research,” he said, adding that such efforts would attract investments, enhance innovation, and boost institutional revenue.
The minister also announced a ₦50 million Student Grant Venture Capital Initiative to support students with market-ready business ideas. The fund, aimed at undergraduates in their 300-level and above, will be managed by TETFund in partnership with the Bank of India.
Highlighting the significance of the move, Minister of State for Education, Prof. Suwaiba Said Ahmad, said the era of treating research solely as a promotional tool is over. “Our institutions must become centres of innovation and economic growth,” she declared.
The Executive Secretary of TETFund, Arc. Sonny Echono, praised the minister’s leadership and emphasized the importance of linking academia, industry, and government to promote innovation.
In his remarks, Dr. Aduloju described the committee’s work as “a matter of national urgency,” stressing that Nigeria’s investment in research remains low compared to other countries. He called for broader inter-ministerial cooperation and proposed a National Innovation Forum to engage both federal and state-level stakeholders.
“The private sector has long been disconnected from our research ecosystem. We are committed to rebuilding that connection with enduring structures,” he affirmed.
By Makinde oyinkansola| July 3, 2025
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