President Bola Ahmed Tinubu has approved the allocation of ₦5 billion for research initiatives in 2024, facilitated through TETFund’s National Research Fund.
The Minister of Education, Dr. Tunji Alausa, announced this on Sunday, stating that the initiative is designed to tackle national development issues by focusing research efforts within public tertiary institutions.
Naijaonpoint reports that Alausa disclosed details of the initiative on Sunday while inspecting the site for the 2024 TETFund National Research Fair and Exhibition in Abuja.
The minister underscored the administration’s dedication to harnessing research and innovation as a means to stimulate economic growth.
He pointed out that the Renewed Hope Agenda of Tinubu will fundamentally depend on domestic research and technological progress, asserting that no country can attain economic advancement without effectively applying research findings.
“This Research Fair will focus on fostering synergy among research and technology agencies to accelerate the deployment of their efforts for nation-building,” Alausa added.
The minister emphasized the government’s commitment to unifying research and innovation institutions that are presently distributed among different ministries, aiming to enhance their effectiveness.
Alausa confirmed that the National Research Fund would receive support from public, private, and international sources, enabling researchers, engineers, and innovators to create solutions for pressing national issues in sectors such as energy, healthcare, agriculture, water management, and telecommunications.
Pleased with TETFund’s initiatives to advance academia, the minister remarked that Nigeria’s abundance of institutions, intellectual talent, and natural resources positions the country favorably to establish a knowledge-driven economy.