The Federal Government has stepped up efforts to transform research and innovation into commercially viable products and businesses, reinforcing its commitment to building a stronger innovation-driven economy.
The initiative, led by the Federal Ministry of Education through its Research, Innovation and Commercialisation Committee (RICC) in partnership with the Tertiary Education Trust Fund (TETFund), gained momentum following the successful conclusion of the South-West Zonal National Commercialisation Intelligence and Ecosystem Engagement Workshop held in Lagos.
The two-day workshop, the sixth and final regional engagement in a nationwide series, brought together policymakers, researchers, academics, industry leaders, investors, development partners, innovation hubs, financial institutions and other key stakeholders from Ekiti, Lagos, Ogun, Ondo, Osun and Oyo states.
Participants explored practical strategies for converting research findings into market-ready products, services and sustainable enterprises capable of driving economic development.
Speaking at the workshop, Acting Chairman of the Research, Innovation and Commercialisation Committee (RICC), TF Okujagu, described the South-West as a critical pillar of Nigeria’s innovation ecosystem due to its concentration of universities, research institutes, industries, innovation hubs, entrepreneurs and investors.
According to Okujagu, Nigeria’s greatest challenge is not the shortage of research, innovation or talented inventors, but the absence of a coordinated system that effectively connects researchers with industries, financiers, government institutions and markets.
He explained that the regional engagements are designed to identify the strengths, challenges and opportunities within each zone to support the development of a comprehensive National Research-to-Commercialisation Framework that will stimulate innovation-led economic growth.
Okujagu also unveiled plans for the proposed National Commercialisation Intelligence System (NCIS), a unified digital platform designed to connect researchers, universities, research institutes, industries, investors, innovation hubs, financial institutions and policymakers.
The platform will provide stakeholders with access to research outputs, patents, innovations, technology readiness levels, industry needs, funding opportunities and investment pathways. It is expected to simplify collaboration, promote technology transfer and accelerate the movement of research breakthroughs from laboratories into the marketplace.
Describing the NCIS as a strategic national asset, Okujagu said the platform would strengthen collaboration across sectors, support evidence-based policymaking and unlock the commercial potential of research, ultimately creating businesses, generating employment and contributing to national prosperity.
In his keynote address, RICC member, Engr. Umar Bindir, called for stronger collaboration between academia, industry and government to bridge the long-standing gap between research and national development.
He noted that while Nigeria possesses significant research capacity, intellectual capital and innovative talent, weak coordination among universities, industries, government agencies, investors and other stakeholders has continued to limit the country’s ability to convert research into economic value.
Bindir stressed that building a well-coordinated innovation ecosystem is essential to ensuring that scientific discoveries and research outputs contribute meaningfully to industrial growth, job creation and sustainable national development.
