The Nigerian government has reaffirmed its commitment to fostering scientific research, innovation and investment to establish the nation as a global leader in scientific advancements by 2030.
The Minister of Science, Technology, and Innovation, Chief Geoffrey Nnaji made this pledge while delivering the keynote address at the inaugural Nigerian Impact Investing Research and Industry Collaborative (NIIRIC) summit held in Abuja on Thursday.
“As the Minister of Innovation, Science, and Technology, I am excited to be among leaders and experts whose work drives the engine of research and development (R&D) in Nigeria,” Nnaji said. “The importance of innovation in transforming societies and economies cannot be overstated. Globally, innovation catalyses industrial growth, job creation, and global competitiveness.”
He highlighted global perspectives, referencing the World Economic Forum’s emphasis on the transformative impact of research and innovation on productivity and economic growth, as well as the OECD’s assertion that investments in innovation enable nations to adapt to global economic and technological shifts, securing long-term prosperity.
Institutional Frameworks for Innovation
To strengthen Nigeria’s innovation landscape, Nnaji announced that the Ministry is working on establishing key frameworks, including the National Research Innovation Fund (NRIF), the National Research Innovation Council (NRIC) and the Industrial Innovation Fund (IIF).
He emphasised the need for a resilient innovation ecosystem integrating infrastructure development, entrepreneurship and creativity. “By empowering innovators to take calculated risks, we can accelerate the creation of groundbreaking solutions to the challenges we face,” he said.
Focus on Human Capital Development
Nnaji also underscored the importance of human capital development, stressing that investments in education and training programmes are essential for equipping Nigerians with the skills required to lead in research and innovation.
“A talented and diverse workforce is essential to positioning Nigeria as a global hub for impactful research and commercialisation,” he added.
Ambition for Global Leadership
Speaking on Nigeria’s innovation roadmap, the minister stated, “Our goal is to position Nigeria as a global leader in research and innovation.” He explained that achieving this vision would require robust partnerships with international organisations, collaborations with leading research institutions and a deliberate effort to showcase Nigeria’s achievements on the global stage.
“By becoming a hub for impactful research, Nigeria can attract investments, build capacity, and develop solutions that address not just local but global challenges,” he affirmed.
The Nigerian Impact Investing Research and Industry Collaborative (NIIRIC), an initiative of the Impact Investors Foundation (IIF), organised the summit under the theme: “Impact Investing: Shaping Policies, Research and Innovation to Commercialisation – The Roadmap to 2025.”
The event brought together leaders and experts from academia, think tanks, research institutions, government agencies, nonprofits and the private sector.
Designed as a platform for strategic dialogue, innovative insights, and actionable collaboration, the summit aims to advance Nigeria’s impact investing ecosystem while driving research, innovation and commercialisation efforts for sustainable development.
NIIRIC aspires to be the leading collaborative platform driving impactful research and industry engagement in Nigeria’s impact investing sector.
