The Federal Executive Council (FEC), chaired by President Bola Ahmed Tinubu, has approved the establishment of the National Research and Innovation Development Fund (NRIDF) to strengthen Nigeria’s research, science, technology and innovation ecosystem.
In an announcement contained in a statement issued by the Head of Press and Public Relations of the Federal Ministry of Innovation, Science and Technology, Mrs. Pauline Sule, on May 11, 2026, the approval marks a major step in the Federal Government’s efforts to promote research-driven development, technological advancement and innovation as key drivers of economic growth.
Under the new arrangement, the NRIDF will be governed by a 17-member National Council on Research and Innovation, which will be chaired by Vice President Kashim Shettima. The Minister of Innovation, Science and Technology, Dr. Kingsley Tochukwu Udeh, SAN, will serve as the council’s vice chairman alongside other members to be appointed.
The fund will operate under the supervision of the Federal Ministry of Innovation, Science and Technology (FMIST), which will provide institutional oversight and coordinate its implementation.
Speaking on the development, Dr. Udeh described the approval as a significant milestone in the Federal Government’s commitment to building an inclusive, sustainable and innovation-driven economy.
He said the initiative aligns with President Tinubu’s Renewed Hope Agenda and supports the administration’s ambition of growing Nigeria into a $1 trillion economy.
According to the minister, although the approval represents a major breakthrough, the fund will still undergo the required legislative, administrative and operational processes before it becomes fully functional and begins disbursing resources.
“When fully operational, the National Research and Innovation Development Fund will provide strategic funding support for researchers, innovators, technology developers and startups across the country,” Udeh said.
He added that the fund is expected to strengthen local research capacity, encourage the commercialisation of research outputs, deepen collaboration between academia and industry, and improve Nigeria’s competitiveness in the global knowledge and technology economy.
The minister noted that the initiative would help unlock the country’s innovation potential by providing sustainable funding for scientific research and technology development, areas widely regarded as critical to economic diversification and industrial growth.
The approval of the NRIDF is expected to provide a structured framework for financing research and innovation projects, while creating opportunities for Nigerian scientists, innovators and entrepreneurs to develop solutions to national challenges and contribute to economic transformation.
