By our Reporter
The Federal Government has inaugurated the Ministerial Research and Innovation Commercialisation Committee (RICC) to bridge the gap between academic research and commercially viable innovations.
At the Abuja event, Minister of Education Dr. Maruf Tunji Alausa described the move as a strategic step toward building a knowledge-driven economy rooted in indigenous innovation. He emphasized the need to convert research into scalable economic solutions and acknowledged the role of higher education in national development.
The RICC, anchored on the Triple Helix Model, will foster synergy among academia, industry, and government to commercialise research, finance innovation, and protect intellectual property. Dr. Alausa lauded TETFund’s ongoing investments in research facilities, including labs, simulation centres, and renewable energy projects.
He also announced the upcoming launch of a Student Venture Capital Grant Scheme under TETFund, offering up to ₦50 million for innovative student projects (300 level and above). The fund, in collaboration with the Bank of Industry, will undergo a four-stage evaluation, with grants expected by September or October 2025.
Minister of State for Education, Prof. Suwaiba Sa’id Ahmad, urged a shift from academic publishing to real-world innovation and job creation, advocating stronger partnerships between academia and industry.
Committee Chair, Dr. Tayo Aduloju (NESG), stressed the urgency of action and proposed a National Innovation Forum to coordinate national innovation efforts.
The RICC supports the Renewed Hope Agenda to transform Nigeria into a research-driven, innovation-powered economy.
