The federal government has approved a National Research and Innovation Fund to strengthen financing for research, technology development, prototyping, scale-up and commercialisation.

Mukhtar Muhammad, permanent secretary, Federal Ministry of Innovation, Science and Technology, disclosed this at the second National Technology and Innovation Summit (NTIS 2.0) in Lagos on Thursday.

The summit, organised by the National Office for Technology Acquisition and Promotion (NOTAP), had the theme ‘From Research to Wealth: Strengthening Innovation, Commercialisation and Technology Sovereignty in Nigeria.’

Mr Muhammad said the fund would help bridge the gap between research outputs and commercially viable products, services and technologies.

He said Nigeria had no shortage of ideas, talent or research capacity but needed stronger links between research, industry, investment and markets.

According to him, research must move beyond academic publications and laboratory shelves to become products, enterprises and solutions capable of generating wealth.

He identified finance, intellectual property protection, technology transfer, infrastructure, technical skills and market assessment as critical to the commercialisation process.

Mr Muhammad said the government was committed to strengthening indigenous technological capacity and ensuring technology acquisition included knowledge transfer and skills development.

“Technology acquisition should facilitate knowledge transfer, skill development, local content adaptation and progressive technological independence,” he said.

Mr Muhammad described technology sovereignty as an increasingly important dimension of national sovereignty, saying Nigeria must develop critical technologies locally.

He said, however, that technological sovereignty did not imply isolation from the global technology ecosystem or international partnerships.

He said Nigeria should engage international partners from a position of greater technological strength and capacity.

The permanent secretary called for stronger frameworks for technology transfer and commercialisation, improved intellectual property management and support for commercially viable technologies.

Mr Muhammed also urged policies that attract private-sector investment and provide greater support for young Nigerians through education, mentorship and incubation.

He said young Nigerians also needed financing, digital and technical skills, laboratories and prototyping facilities to drive the innovation economy.

“With the right investment in education, skills, mentorship, infrastructure, finance and entrepreneurial support opportunities, our young people can become the principal drivers of this country’s innovation economy,” he said.

Mr Muhammad urged participants to translate the summit’s recommendations into concrete actions, saying success should be measured by its impact beyond the conference hall.

He commended NOTAP for promoting technology transfer, intellectual property utilisation and stronger links between research institutions and industry.

Also speaking, Andrew Haruna, secretary-general, Committee of Vice Chancellors of Nigerian Universities (CVCNU), called for stronger university-industry collaboration and research funding.

Mr Haruna, represented by Olatunji Oladiran, said Nigeria’s research ecosystem faced limited grants, funding gaps and weak university-industry partnerships.

He said low commercialisation of research outputs was also limiting the impact of research in the country.

Mr Haruna said universities must view research not merely as an academic obligation but as an investment, an asset, and a pathway to solving national problems.

He said stronger research funding, industry partnerships and commercialisation would improve the global visibility and competitiveness of Nigerian universities.

Mr Haruna urged stakeholders to translate the summit’s deliberations into practical action that makes research more impactful and commercially viable.

(NAN)