Nigeria Minister of Innovation, Science, and Technology, Dr. Uche Nnaji, has outlined how strategic research initiatives focusing on global solutions could transform the nation into a premier investment destination.
Speaking at the inaugural Annual Convening of the Nigerian Impact Investing Research and Industry Collaborative (NIIRIC), the minister emphasized the critical role of impactful research in attracting international investment and fostering sustainable development. The event, centered on the theme “Impact Investing: Shaping Policies, Research, and Innovation to Commercialisation – The Roadmap to 2025,” brought together key stakeholders from academia, industry, and government sectors.
Dr. Patricks Oghuma, representing Minister Nnaji at the gathering, articulated the government’s vision for positioning Nigeria at the forefront of global research and innovation. He highlighted the necessity of creating robust policy frameworks that would facilitate seamless collaboration between academic institutions, industry players, and government bodies. The minister emphasized that such policies must address crucial aspects including funding gaps, infrastructure access, and partnership development.
Our ambition extends beyond national boundaries,” Oghuma stated on behalf of the minister. By establishing Nigeria as a hub for impactful research, we can attract substantial investments, enhance our capacity building efforts, and develop solutions that resonate both locally and globally.
The minister’s vision aligns closely with President Bola Tinubu’s Renewed Hope Agenda, which places significant emphasis on leveraging science, technology, and innovation to achieve economic diversification and industrial growth. This strategic approach aims to boost Nigeria’s export capabilities while fostering shared economic prosperity across the nation.
In a significant move toward international collaboration, the Ministry announced its alignment with UNESCO’s Open Science Recommendations, reinforcing Nigeria’s commitment to making innovation a cornerstone in achieving the Sustainable Development Goals by 2030.
The event also featured insights from Anna Evi-Parker, Chairperson of NIIRIC, who emphasized the organization’s mission to bridge the crucial gap between researchers and industry practitioners. NIIRIC was established with the fundamental belief that collaboration between researchers and industry leaders can create an ecosystem delivering measurable, sustainable impact in Nigeria,” Evi-Parker explained.
She challenged participants to move beyond mere discussion and forge meaningful connections that would advance NIIRIC’s vision of becoming Nigeria’s leading platform for impactful research and industry engagement.
Adding academic perspective to the discourse, Professor Chris Ogbechie, Dean of the Lagos Business School, highlighted impact investing’s role as a transformative force for sustainable development. He emphasized its alignment with both the United Nations Sustainable Development Goals and the Africa We Want agenda 2063.
“Impact investing transcends traditional financial strategies,” Professor Ogbechie noted. The Lagos Business School’s partnership with NIIRIC represents our commitment to developing and implementing research solutions that can effectively scale impact investment across the continent.
The convening marks a significant milestone in Nigeria’s journey toward becoming a research and innovation hub. By focusing on practical solutions to global challenges, the initiative promises to attract international investment while addressing pressing local needs. The emphasis on collaboration between academia, industry, and government stakeholders suggests a comprehensive approach to achieving sustainable development goals.
As Nigeria positions itself for the future, this strategic focus on research and innovation could prove instrumental in attracting foreign investment, fostering economic growth, and establishing the country as a leader in sustainable development solutions. The roadmap to 2025 presents an ambitious yet achievable vision for transforming Nigeria’s research landscape and its global standing in the innovation ecosystem.
The success of this initiative could potentially reshape Nigeria’s economic landscape, creating new opportunities for international collaboration while addressing critical development challenges both within the country and across the African continent.
