The Federal Government has approved the establishment of the National Research and Innovation Development Fund (NRIDF), committing up to $500 million annually to strengthen research, science, and technology in Nigeria.

The announcement was made by the Minister of Education, Dr. Maruf Tunji Alausa, following a Federal Executive Council meeting. The Fund is designed to address long-standing gaps in Nigeria’s research and innovation ecosystem by fostering stronger collaboration among universities, research institutes, industry players, and government agencies in line with national development priorities.

According to the government, the NRIDF will support competitive research grants, development of innovation infrastructure, commercialisation of research outputs, and capacity building for science and technology talent across the country.

The initiative will be supervised by the Federal Ministry of Innovation, Science and Technology and governed by a 17-member National Council on Research and Innovation, which will be chaired by the Vice President.

Officials say the programme reflects President Bola Ahmed Tinubu’s commitment to positioning Nigeria as a continental leader in knowledge-driven growth, innovation, and sustainable economic transformation.