The President of the African University of Science and Technology (AUST), Prof. Peter Onwualu, has emphasised that commercialising research outputs is critical to driving Nigeria’s economic growth.
Onwualu made this known in an interview on Thursday in Abuja, noting that the need to bridge the gap between research and industry informed the university’s decision to convene Summit X, scheduled to hold from April 22 to 24 in Abuja.
According to him, Nigeria has a vast research ecosystem, comprising over 300 universities, more than 200 research institutes, as well as polytechnics, Colleges of Education, and large-scale industries where research and development activities take place.
He, however, lamented that most research outputs remain confined within academic and institutional settings, with limited pathways to commercial application.
“We decided, as a university, that one of the ways to solve this problem is to move research from the laboratory, library, or researcher’s office to where it truly belongs — the marketplace,” he said.
Onwualu explained that innovation involves transforming knowledge, creativity, and new ideas into practical solutions, products, or processes that deliver economic value and measurable societal impact.
He added that the forthcoming summit is designed to foster collaboration among researchers, entrepreneurs, industry players, and funding institutions, with a focus on accelerating the commercialisation of research.
The event will feature innovative ideas and technologies across key sectors, including digital technology, healthtech, clean energy, agriculture, creative industries, and finance.
“Funding agencies and institutions will also be present to assess emerging research outputs from Nigeria and across Africa, with a view to supporting viable innovations,” he said.
Onwualu further highlighted AUST’s efforts in promoting innovation through its university-based hub, AUST Inspire, which serves as a technology business incubator.
The hub, established with support from the World Bank and the African Development Bank, is designed to bridge the gap between academic research and industrial application by fostering entrepreneurship and facilitating private sector engagement.
He noted that the initiative provides a structured pathway for translating research findings into commercially viable products, thereby strengthening the link between academia and the marketplace.
