TETFund charges FG to increase annual research funding to $1bn

The Tertiary Education Trust Fund, (TETFund), has called on the federal government to rise its annual funding for Research and Development (R&D) to $1 billion.

Executive Secretary of TETFund, Prof. Suleiman Bogoro, made this appeal while speaking at the inauguration of TETFund’s R&D Standing Committee in Abuja, adding that massive investment in research would bring about the much-needed development in the country.

Prof. Bogoro, also commended President Muhammadu Buhari for his recent increase of the research grant from N5 billion to N7.5 billion.

He said it was time for the promulgation of a law that will bring into full place what he referred to as the “National R&D Foundation (NRDF)” to deepen research in the country.

Bogoro said “To galvanize our vision towards making R&D the ace and game changer in our national development agenda, the need for an appropriate law to support the establishment of a National R&D Foundation (NRDF) cannot be overstated.

“We need a robust institutional framework and arrangement for the NRDF. I am recommending a minimum annual budgetary threshold of 1billion dollars as the funding portfolio for this Foundation.

“When we consider the inevitable benefits of R&D and the inevitable benefits of R&D and the socio-economic challenges in Nigeria, this amount begins to look like a drop of water in the ocean-population of 200 million people in 2020 and projected to become double in 10 years for now.”

According to him, the TETFund’s R&D Standing Committee is expected to come up with its own recommendation on the required amount that is suitable for efficient research activities in the country.

He, therefore, called for a robust collaboration between researchers and the private sector to bring about all-round development in the country.

“It is envisaged that the private sector of the economy should pick the gauntlet to steamroll the lofty initiative by taking ownership of it,” he added.

The TETFund scribe lauded the recent performance of Nigerian universities in the world’s ranking, noting that TETFund intervention projects have continued to encourage such feats.

On his part, Minister of Education, Malam Adamu Adamu, represented by the Minister of State for Education, Hon. Chukuemeka Nwajuiba, while inaugurating the committee, called on members to put their best to the work, which he described as ‘national assignment.’

Adamu said that continued investment in research would herald a rebirth of Nigeria.

Adamu said “Nigeria voted us into power predicated on our being able to transform our national aspirations and make them a national achievement.

“It is in recognition of this direction that the Executive Secretary, TETFund, presented his vision of a research-driven nation and how to finance that ambition through the Board of Trustees (BOT).

“To a large extent, Nigeria’s future depends on you. You have been summoned to a national service that is not available to the rest of the 200 million population. It is a national calling that requires almost all of you,” he said.

Speaking in the same vein, the Chairman, House Committee on Tertiary Education and Services, Hon. Aminu Suleiman said the work of the committee would open the windows of opportunities to tackle various developmental challenges confronting the country.

Suleiman, represented by Hon. Ikenna Elezieanya, bemoaned the way Nigeria has shown less concern to research, stressing that many developed countries invested in research and development and thus helped to improve on their economy.

“Research is the gateway of innovation. It is said that while countries like the USA, Korea, and the like have been investing in research and development, we seem to show less concern,” the lawmaker said.

The lawmaker also urged the beneficiaries to take good advantage of the initiative to solve problems for the betterment of the country.

In his response, the Chairman of the over 160-member TETFund’s R & D Committee, Prof. Njidda M. Gadzama, said the epoch-making event will transform the socio-economic sector by ensuring the robust promotion of cutting-edge innovations.

“We promise to carry out our assignment with commitment and diligence and this will result in the R & D Culture and R&D Foundation to drive industrialization of the country,” Gadzama said.

The standing committee, whose membership is drawn from the academic, industry, and private sector, has the President of the Manufacturers Association of Nigeria, (MAN), Mansur Ahmed, as one of the three Vice Presidents.