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Abuja, FCT – By Prime Brief Media
The Federal Government has established the National Research and Innovation Development Fund (NRIDF), committing up to $500 million annually to the advancement of science, technology, and innovation in a bid to reposition the country as a knowledge-driven economy.
The Minister of Education, Dr. Maruf Tunji Alausa, announced the establishment of the fund during a press briefing in Abuja on Sunday. He said the NRIDF, which is chaired by the Vice President, will provide competitive grants to researchers, innovators, and institutions working on solutions to national challenges in agriculture, health, energy, digital technology, and manufacturing.
“For decades, Nigeria has underinvested in research and innovation. This fund is designed to change that. It will support cutting-edge research, the commercialisation of inventions, and the building of innovation hubs across the country. The goal is to unlock the creative potential of our youth and to build a sustainable, knowledge-based economy,” Dr. Alausa said.
The NRIDF will draw its funding from the federation account, international development partners, and a percentage of revenue from the solid minerals and oil sectors. The minister said the implementation framework would prioritise transparency, with all grants subjected to peer review and audit.
The fund is part of a broader push by the Tinubu administration to diversify the economy and reduce dependence on crude oil. It will complement the recently launched Mine-Tech UniPod at Nasarawa State University, Keffi, which aims to accelerate innovation in the solid minerals sector.
Prime Brief Media will report on further economic indicators and official responses as they become available.
#Nigeria #ResearchAndInnovation #NRIDF #ScienceAndTechnology #Economy #PrimeBriefMedia
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