The Tertiary Education Trust Fund (TETFund) on Thursday tasked the Federal Government to raise its yearly funding for Research and Development (R&D) to $1 billion. This was as it hailed President Muhammadu Buhari for his recent increase of the research grant from N5 billion to N7.5 billion.
Executive Secretary of TETFund, Suleiman Bogoro, speaking at the inauguration of TETFund’s R&D Standing Committee in Abuja, said massive investment in research would bring about the much-needed development in the country.
Bogoro also said it was time for the promulgation of a law that will bring into full place what he referred to as the “National R&D Foundation (NRDF)” to deepen research in the country.
”To galvanize our vision towards making R&D the ace and game-changer in our national development agenda, the need for an appropriate law to support the establishment of a National R&D Foundation (NRDF) cannot be overstated,” Bogoro said.
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“We need a robust institutional framework and arrangement for the NRDF. I am recommending a minimum annual budgetary threshold of 1billion dollars as the funding portfolio for this Foundation.
“When we consider the inevitable benefits of R&D and the inevitable benefits of R&D and the socio-economic challenges in Nigeria, this amount begins to look like a drop of water in the ocean-population of 200 million people in 2020 and projected to become double in 10 years for now,” he said.
Bogoro, who said the TETFund’s R&D Standing Committee, is expected to come up with its own recommendation on the required amount that is suitable for efficient research activities in the country, called for a robust collaboration between researchers and the private sector to bring about all-round development in the country.
“It is envisaged that the private sector of the economy should pick the gauntlet to steamroll the lofty initiative by taking ownership of it,” he said.
The TETFund boss lauded the recent performance of Nigerian universities in the world’s ranking, saying TETFund intervention projects have continued to encourage such feats.
Speaking at the occasion, Minister of Education, Adamu Adamu, while inaugurating the committee, called on members to put their best to the work he described as ‘national assignment’.
Represented by the Minister of State for Education, Chukuemeka Nwajuiba, Adamu said that continued investment in research would herald a rebirth of Nigeria.
“Nigeria voted us into power predicated on our being able to transform our national aspirations and make them a national achievement. “It is in recognition of this direction that the Executive Secretary, TETFund, presented his vision of a research-driven nation and how to finance that ambition through the Board of Trustees (BOT)
“To a large extent, Nigeria’s future depends on you. You have been summoned to a national service that is not available to the rest of the 200 million populations. It is a national calling that requires almost all of you,” he said.
On his part, the Chairman, House Committee on Tertiary Education and Services, Aminu Suleiman said the work of the committee would open the windows of opportunities to tackle various developmental challenges confronting the country.
Suleiman, represented by Ikenna Elezieanya, lamented the way Nigeria has shown less concern to research, saying that many developed countries invested in research and development and thus helped to improve on their economy.
“Research is the gateway to innovation. It is said that while countries like the USA, Korea, and the like have been investing in research and development, we seem to show less concern.” He encouraged beneficiaries to take good advantage of the initiative to solve problems for the betterment of the country.
Responding, the Chairman of the over 160-member TETFund’s R & D Committee, Njidda M. Gadzama(prof), said the epoch-making event will transform the socio-economic sector by ensuring the robust promotion of cutting-edge innovations.
“We promise to carry out our assignment with commitment and diligence and this will result in the R & D Culture and R&D Foundation to drive industrialization of the country,” he said.
The standing committee, whose membership is drawn from the academic, industry, and private sector, has the President of the Manufacturers Association of Nigeria, MAN, Mansur Ahmed, as one of the three Vice Presidents.
