The adoption of research output is essential for achieving the Sustainable Development Goals (SDGs) in Nigeria. To unlock this potential, it is imperative to prioritise the development of a robust innovation ecosystem that fosters the effective translation of research into actionable solutions.
These are key highlights at a stakeholders gathering, being the 1st Nigerian Impact Investing Research and Industry Collaborative (NIIRIC) Annual Convening held in Lagos, with the theme ‘Impact Investing: Shaping Policies, Research, and Innovation to Commercialisation – The Roadmap to 2025’.
With Nigeria’s impact investing landscape at a critical juncture, the convening emphasised the need for deeper collaboration between the academia and industry; and policy reforms that encourage commercialisation of research-driven solutions to achieve the country’s Sustainable Development Goals (SDGs).
The NIIRIC, a collaborative platform launched in August this year, is driving impactful research and industry engagement in Nigeria’s impact investing sector and was established with grant funding from The Foreign, Commonwealth and Development Office (FCDO) Research and Innovation Systems for Africa (RISA) Fund.
Top dignitaries at the event included Chris Ogbechie, a professor and dean, Lagos Business School; Charles Emembolu, co-convener, Omniverse and chairman of the Board Innovation Support Network (ISN); Anna Evi-Parker, NIIRIC chairperson and executive secretary, Private Equity Ventures Capital Association (PEVCA).
Uche Nnaji, minister of Science, Technology and Innovation, in his opening remarks at the convening, outlined the importance of building a resilient innovation ecosystem that integrates infrastructure development, entrepreneurship and creativity.
Nnaji represented by Oghuma Patrick, his special assistant, said, “By prioritising policies that enable collaboration, fostering a culture of innovation and investing in our people, Nigeria can unlock its full potential and drive meaningful change for generations to come’’.
Industry experts and researchers at the event also discussed best practices for bridging the gap between research and innovation, emphasising the need to align academic output with industry needs to drive scalable impact.
“This convening marks a pivotal moment for Nigeria’s impact investing landscape. By fostering collaboration and aligning research with real-world challenges, we can unlock the full potential of innovation to address pressing social and environmental issues,” said Alice Dada, Nigeria Country Technical Lead, RISA Fund.
“A thriving impact investing ecosystem requires cohesive efforts from all stakeholders. The recommendations developed at this event provide a clear path for scaling impactful solutions that will benefit communities and contribute to sustainable development,” Etemore Glover, CEO, Impact Investors Foundation (IIF).
At a panel session moderated by Chukwuemeka Nwaokolo, project manager, Innovation to Market (I2M), UNILAG, speakers, Chinyere Almona, DG, Lagos Chamber of Commerce and Industry; Olanyinka Adewunmi, Ag. Director, Innovation and Technology Management Office (ITMO); Taiwo Olusade, founder, Center for Enterprise Development and Action Research; Labake Ajiboye-Richards, CEO, AR Initiative; Ugochukwu Nwosu, head of Programs and Grants, Aspire Coronation Trust Foundation, elaborated on strategies to strengthen Nigeria’s research and innovation ecosystem landscape through intentional collaboration of researchers and industry stakeholders.
Kingsley Godwin, The NIIRIC manager in his remarks said NIIRIC will focus on implementing the recommendations identified in the stakeholder’s mapping while driving measurable progress and scaling innovations that contribute to the growth of Nigeria’s research and innovation ecosystem in 2025.
The Nigerian Impact Investing Research and Industry Collaborative (NIIRIC), an initiative of the Impact Investors Foundation, was established to foster collaboration, drive innovation, and translate research into commercial solutions by uniting stakeholders, producing actionable research, and advocating for supportive policies that advance the impact-investing ecosystem.
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