President Bola Ahmed Tinubu has approved the allocation of ₦5 billion for research initiatives in 2024, to be facilitated through the Tertiary Education Trust Fund (TETFund) National Research Fund. The announcement was made by the Minister of Education, Dr. Tunji Alausa, who revealed the plan on Sunday.
The initiative aims to address key national development challenges by focusing research efforts within Nigeria’s public tertiary institutions.
Speaking during an inspection of the site for the upcoming 2024 TETFund National Research Fair and Exhibition in Abuja, Alausa emphasized that the initiative is a crucial part of the administration’s focus on harnessing research and innovation to stimulate economic growth.
“The Renewed Hope Agenda will fundamentally depend on domestic research and technological progress,” he stated, adding that no nation can achieve economic development without effectively applying research outcomes.
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Alausa further noted that the Research Fair would promote collaboration among research and technology agencies, accelerating their contributions to nation-building. The fair will focus on fostering synergy across various institutions to address pressing national challenges.
The minister also highlighted plans to unify the country’s research and innovation institutions, which are currently spread across different ministries. This centralization is expected to improve the efficiency and impact of Nigeria’s research endeavors.
In addition to the ₦5 billion allocation, Alausa confirmed that the National Research Fund would attract contributions from public, private, and international sources. This funding will support researchers, engineers, and innovators working on solutions for critical sectors such as energy, healthcare, agriculture, water management, and telecommunications.
Praising TETFund’s continued efforts to advance academia, Alausa noted that Nigeria’s vast network of educational institutions, intellectual talent, and natural resources places the country in a favorable position to build a knowledge-driven economy.
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