The Minister of Innovation, Science and Technology, Chief Uche Nnaji, has revealed that the task before the newly created inter-ministerial committee by President Bola Tinubu under the auspices of the Vice President is to develop an economic blueprint that make Nigeria's economy worth trillions of dollars in 10 years.
The Minister disclosed this while delivering his opening speech at a workshop organized by stakeholders on research and innovation during the week in Lagos.
The Minister who was represented by his Director on Technical Administration in his Office, Dr. Patricks Oghuma, explained that the Committee, chaired by the Vice President, Senator Kashim Shetima is coordinated by the Federal Ministry of Innovation Science and Technology.
He stressed that the goal of this initiative is to break down ministerial silos that have historically impeded national development, saying that this will accelerate agenda for economic diversification, increase competitiveness, lessen reliance on imports, and position Nigeria as a knowledge-driven economy in line with the main presidential priorities.
“As part of the administration of Tinubu, the committee is working to aggregate financial and intellectual resources to build the cockpit from which Nigeria's innovation economy will be operated.
“The goal is to make Nigeria's economy worth trillions of dollars in ten years. We have to make sure that research has a positive economic impact.
“It was only last week, during the inauguration of the Inter-ministerial Committee on Research and Innovation (IMC-RI), I had the privilege of accompanying the VP-the committee will concentrate on five key areas that are essential to the development of the country: They include, Agriculture and “Climate Resilience, Manufacturing Excellence, Healthcare Innovation, Natural Resource Optimization, Energy Security.
“I want to assure you that the Committee is not just another bureaucracy — but a high-impact platform that will transform research into real solutions, real jobs, and real progress. We are determined to eliminate duplication of efforts, harmonize resources, and ensure that every Naira spent on innovation delivers value for our people," he said.
According to him, the president also approved the presidential plenary on Innovation, an annual high-level forum that will bring together academia, research institutes, industry, civil society, and the Nigerian people to align with national innovation priorities.
“We can build the knowledge-driven, innovation-led economy that Nigeria desperately needs with political will, cross-sector collaboration, and focused execution. Let's work together to make our ideas a reality.
“It is my profound honor to welcome you all to this pivotal workshop aimed at building capacity and providing guidance on the transition of research outputs to commercially viable products and services while fostering investor-readiness and innovation pipeline development.
“I am aware that the Workshop has been designed to equip participants with the knowledge, tools, and strategies to navigate the commercialization journey successfully.
“I have no doubt in mind me that participants will gain insights through expert-led sessions, practical exercises, case studies, and networking opportunities to connect with industry leaders and potential collaborators."
He highlighted the important of the meeting saying; “Today, we gather to address a critical challenge: translating our nation’s abundant research outputs into market-ready solutions that drive economic growth, attract investment, and improve the lives of our citizens.
“This workshop is a call to action—to equip our innovators with the tools to become investor-ready, to align research with industry needs, and to build a pipeline of scalable innovations that solve real-world problems.
“Nigeria’s path to sustainable development is anchored in a bold strategy that prioritizes research and innovation as the foundation for solving pressing local challenges.
“The Federal Government, under President Bola Tinubu, leadership, recognizes that science, technology, and innovation (STI) is the bedrock of a diversified economy.
“Through policies like the National Science, Technology, and Innovation Roadmap (NSTIR) and initiatives such as the Industrial Innovation Fund (IIF), we are committed to: Strengthening partnerships between researchers, entrepreneurs, and investors, bridging the valley of death, encouraging academia to align research with market needs, providing funding and infrastructure for startups and spin-offs, creating an enabling environment for intellectual property protection and venture capital.
“A key focus today is investor readiness, ensuring our innovators can articulate the value of their ideas, protect their IP, and develop viable business models.
“We must also foster cross-sector collaboration, where academia, industry, and government co-create solutions that align with market demands.
“Innovation is the currency of every civilisation, while no society grows by staying the same, Nigeria cannot hope to evolve for the better unless it invests in research and innovation.
“It is a common mantra that research, the mother of all the inventions have guided humanity through the different stages and waves of the Industrial Revolutions.
“This workshop, therefore, is a declaration to our collective resolve to till the soil, explore the seas and scout the space of knowledge to understand the consequences of our choices in terms of research and innovation.
“I am truly inspired by the objectives of what we are setting out to achieve by this workshop today," he said.
The Minister noted that Nigeria's challenges and opportunity require coordinated efforts of research as well as innovation and cannot be addressed in isolation.
"We must therefore foster a culture of collaboration across various governmental sectors and the organized private sector to create a unified and strategic approach to research and innovation and enhance Nigeria’s economic growth and global competitiveness," he said.
Present at the strategic meeting include: The Executive Secretary of Private Equity and Venture Capital Association (PEVCA) Chairperson, Nigerian Impact Investing Research and Industry Collaborative (NIIRIC), Anna Evi Parker, CEO, Impact Investors Foundation (IIF), Ms. Etemore Glover, Chief Operating Officer, Impact Investors Foundation, Chizoba Ada Emmanuel-Awakessien.
The others are: Programme Manager, NIIRIC, Kingsley Godwin, the Country Technical Lead for Nigeria at RISA Fund, Mrs. Alice Omisore-Dada, Research Lead, AfriLabs, Dr. Itoro Emembolu, and the Facilitating Consultant, CEO, Moolu Ventures Lab, Prince Ogbonna.