The Federal Government has officially launched the Research and Innovation Commercialisation Committee (RICC) to accelerate the commercialization of research outputs from Nigeria’s tertiary institutions.
Minister of Education Dr. Morufu Alausa in his welcome remarks said the committee’s mission is to bridge the gap between academia and industry by transforming homegrown research into market-ready products and services.
He emphasized that the initiative aligns with President Bola Tinubu’s Renewed hope agenda aiming to shift Nigeria from a resource-based economy to a knowledge-driven one.
The Minister also announced a N50 million Student Grant Venture Capital Initiative to support the scaling of student-led enterprises in tertiary institutions nationwide.
Describing the RICC as “a matter of national urgency,” Committee Chairman Dr. Aduloju highlighted Nigeria’s low research-investment-to-GDP ratio compared to peer nations.
The committee includes experts such as Prof. Ibrahim Katampe, Dr. Umar Bindir, Prof. Sydney Ibeanusi, and Dr. Detoun Ogwu, as well as representatives from the Federal Ministry of Science and Technology, the Bank of Industry, the Manufacturers Association of Nigeria (MAN), and leading Nigerian universities.
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