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 one of the most strategic investments in research, science, innovation, and technology in Nigeria’s history.
According to TSF, the establishment of the NRIDF signals a deliberate shift toward creating a productivity driven, innovation powered, and globally competitive economy.
The group noted that Nigeria’s research ecosystem has for years suffered from inadequate funding, obsolete infrastructure, weak industry collaboration, poor intellectual property protection, limited commercialisation pathways, and insufficient venture financing.
It said these challenges have prevented many scientific discoveries and technological innovations developed in Nigerian universities and research institutions from evolving into scalable industries, commercial products, and export opportunities.
TSF further observed that the disconnect between academia, industry, government institutions, and investors has weakened Nigeria’s industrial competitiveness and slowed its transition into a modern knowledge economy.
The Forum also lamented Nigeria’s low investment in research and development compared to global standards, adding that poor support systems have contributed to the migration of Nigerian scientists, engineers, researchers, and technology professionals to foreign countries.
The Group described the NRIDF as a bold and timely intervention capable of addressing structural barriers limiting innovation, industrialization, productivity, and economic diversification.
TSF praised the Federal Government’s plan to create a coordinated framework linking universities, research institutes, startups, industries, innovators, development institutions, and policymakers around national development priorities.
According to the Forum, the emphasis on competitive research grants, innovation infrastructure, technology transfer, commercialisation of research outcomes, and human capital development demonstrates an understanding that modern economies are increasingly driven by innovation and knowledge systems.
The statement stressed that countries that achieved rapid industrialization and sustained economic growth did so through deliberate investment in research and development.
It added that Nigeria cannot attain sustainable industrialization or long term competitiveness while remaining dependent on imported technologies and raw commodity exports.
TSF therefore described the Tinubu administration’s decision to commit up to $500 million annually to research and innovation as visionary and economically strategic.
The Forum noted that the initiative aligns with President Bola Tinubu’s vision of building a $1 trillion economy, arguing that no country can attain such economic status without sustained investment in science, technology, innovation, and industrial productivity.
It said a strong innovation ecosystem would help expand manufacturing capacity, improve productivity, strengthen food security, support renewable energy development, deepen digital transformation, improve healthcare systems, and create globally competitive industries capable of generating jobs and export earnings.
TSF also welcomed the proposed governance structure of the fund under the Federal Ministry of Innovation, Science and Technology, with oversight by the National Council on Research and Innovation chaired by Vice President Kashim Shettima.
However, the Forum stressed that the credibility and long-
term success of the initiative would depend on transparency, merit, institutional independence, competitiveness, and measurable outcomes.
It urged the Federal Government to ensure that the implementation framework is protected from political interference and supported by independent review mechanisms that evaluate projects based on scientific quality, innovation potential, national relevance, commercial viability, and developmental impact.
The group also called for complementary reforms in intellectual property protection, patent registration systems, laboratory infrastructure, innovation financing, technology incubation, and private sector incentives to ensure that research outputs from Nigerian institutions are successfully commercialised and integrated into industry.