Connect with us

news

RDI 3 Days Summit: Research is our greatest Asset And We can generate over 10 Trillion Revenue In Nigeria, Says stakeholders

Published

on


At the end of a 3- days summit coordinated by Research for Impact, Knowledge-Economy, and Sustainable Development (RIKE-SD), in partnership with the West and Central Africa Research and Education Network (WACREN) and Foreign and Commonwealth Office in Abuja on Wednesday, 27th of March, 2024, the discussions centred around the pivotal role of research, development, and innovation in driving economic growth and prosperity.

The Chairperson Commission of Nigerians in Diaspora, Abike Dabiri-Erewa, she highlighted the importance of our human and knowledge-based resources as our Nigerian greatest assets we can proud of. To be rated above, oil is our global knowledge-based resource rooted in research and innovations. The Diaspora chairman stressed the need for effective development to grow any Nation worldwide. She stated her Ministry had embarked on a series of projects that could enhance the results of RDI, transforming our country’s competitiveness worldwide.
We have over 17 million Nigerians in Diasporas, many of whom are doing well in their chosen fields.

Dr Popoola Mustapha, the Director of RIKE SD, Research Innovation and Knowledge Education and Sustainable Development (RIKE SD), added that the 3-day Summit has generated working groups that would be reconstituted as the national research Think-Tank. The Think Tank would be looking at the Agendas of Mr President; we have 8 groups that would later go into evidence theses to come out with solutions to the problems identified in this Summit. With our Pentagonal Nexus, we would work with five actors in typical RDI systems. The Academia, Industry and Government are to start with. Now, with our plans, we are incorporating the Funders because we don’t want to start looking for Funds after planning. As we plan, they are on the table. We would make it demand-driven and be sure we have the end-users, who are the people in mind.
Results to be achieved in these efforts would form parts of 8 points achievements in office. We need a driven committee not appointed but selected based on performance. Institutionalising these platforms for state and national actors to build sustainability. On Monday, we had the presence of the Honorable Minister of Science and Technology and The Chairman of the Commission of Nigerians in Diasporas; such presence was symbolic; after pro-creation in Nigeria, we are targeting other African nations. Over 17 million Nigerians in Diasporas, many of whom work in research and development fields; when unleashed potential, we would have over 10 Trillion in new Revenue in Nigeria in terms of new Knowledge. Many of these people hold critical roles in their chosen fields of innovation globally, so they would be glad to partner with this platform. They were well-funded abroad and were looking for an opportunity to partner with Nigeria. With us is a journey and Marathon because we will be accelerating processes. In the coming days, we will move to the following levels, presenting outcomes to the President and state governors and discussing how we can tap into outcomes.

The core institutions involved, the federal Ministry of Science and Technology, Agriculture, Health and others, will form a committee to drive the Summit outcome to develop the Nation. Institutions to drive the policies include the Nigerian Institute of Strategy; we have only 25 Agencies represented here and a one-day session scheduled for private sector drivers in the Nation. We are not closing borders; the platform is open for other sectors’ partnerships to fulfil our aims. One thing we have done differently is have a Think-Tank committee for the first time to tackle issues in line with President Tinubu’s mandate. The Think Tank committee would help the President provide solutions to several problems. We will also co-create solutions with Diasporas to engage and tackle challenges headlong.

Professor Sulaimon Elias Bogoro,Prof.Animal science and former Executive Secretary, TETFUND, at the Summit, Affirmed the roles of TETFUND in support of Educational Research in Nigeria, which, in other words, generated needed results in innovations and advancement. He said Nigeria’s research activities have been recognised by the African research field as number 6th. At the same time, it stands number one in the country due to our levels of integrity and structures. TETFUND has partnered with other ministries, such as MOU with the Ministry of Science and Technology. Cutting-edge innovations have been achieved via this partnership.
With 17 million Nigerians in the Diaspora, we need Data to use research and development to harness growth. What we want to do with all we have learnt at this Summit will determine the outputs of our activities here. There are lots of young people globally who are using cutting-edge innovations from our country. He stresses the essentials of the department in technology in research transfer innovation. He said we will have a research and development department at the University of Ibadan dealing with innovators in Diasporas.
In confirmations of institutions in the country that had received Grants in research, he mentioned Landmark and Redeemers University as significant institutions of Research Grants, but many still need to learn. In efforts to earn support for research innovations, he cited when he visited the Minister of Health residence for close to 2 hours of discussions on research and development in health sectors and looking forward to partnering with the Ministry to boost health innovations.
The Professor of Animal Science responded to Journalists’ questions on why there had been dwindled interest in research activities that it was because it’s not an activity you embarked on that guarantees you immediate results; you can start a little research and end up spending like 500 Dollars, so most people are not encouraged to do stuff like that. But we need to start somewhere; we are all aware that every Nation making so much progress breaks out from a resources-based to a knowledge-based economy. RDI is essential to the growth of any economy.
Those in the medical industry would understand that research is critical. Those with herbs had collaborated with researchers to fine-tune their activities. A few days ago, I heard someone mention bringing Innovation to Ado Bayero University (ABU) Zaria, which is a Chikabrown country breed, and that is a great innovation. However, we are so disappointed that there is no funding for the project. At FUNAAB University, they have FUNAAB-Alpha, an entirely new breed, sometimes non-scientific and very loud; when some say everything about GMB is wrong, I say no. Does it mean cross-breeding is wrong? Cause it’s also cross-breeding. In the content of effecting a change, In the Gene content of any Animal or plant, that is innovation, as it were. The lowest level is cross-breeding; at lower levels, we have animals that are F1 and are doing well. I want to confirm that significant innovations have gone out there. Still, the biggest challenge is our inability to recognise our intellectual properties and place them where they belong. Many brilliant scientists were also not rewarded for their innovative ideas beyond the laboratory. By increasing Research Grants, we would have great intentions. Most of the time, you hear many university lecturers discussing how to receive the next salary to feed their families because their salaries are not enough to cater for them. Nigerian professors’ salaries are equivalent to 300 dollars, while South Africa’s is 3000 dollars. These are issues that distract people; if we encourage, support and fund our Best and link with Industries in how we are recognised, things will improve.
You don’t rely on foreign nations’ results because they might not be willing to sell or share with you due to economic and political policies. Then it would be best if you did thorough research yourself. You are not independent of your needs until you can produce it yourself. It’s vital to know that this Summit is, therefore, seen promptly; hence, the 8-point Renew agenda of Mr President aligns with the Summit. When Mr President was inducted as Patron of the National Science Academy, he stated that every government policy and project would be subjected to scientific evaluations. Then, we can be sure that the outcome will last for the Nation.

AVM Jomo Osahon,Former Director General of the Defence Research Production Bureau, added his voice that there are many Military innovative activities that go unnoticed by the populace. He cited Instances of Lake Chad water that keep going down speedily, so people cannot navigate effectively on the water.
We met and discussed that we needed not just a flat boat but a unique boat that could go through marshy, mud or even shallow water, and I was tasked by the Air Chief Defence Staff to develop an Airboat innovation. It has been there, but the one we have is a unique one that would provide some level of protection for our soldiers and would also be a firepower that has never existed. We could design a boat in partnership with a company in Port-Harcourt to produce a prototype. The former President Buhari was excited to see it and commissioned us to produce 10 more. Let me tell you something unique that happened. At a military conference, some nations supporting us in the battle against insurgencies told us they learnt our Research and development department had produced an Airboat; they requested 100 pieces of them, or else they wouldn’t support us in battle anymore. This request falls on when the former President asked us to produce more. He asked for the time frame for production, and we told him soon; he approved and mobilised us with 50 per cent of the funds requested. So, innovations are happening in the country. Some of us must have heard of some aircraft bought by former president Goodluck Jonathan; those planes were not weaponised; we reached out to Germany, and those planes were Alfa jets, built by Germany and France. They requested 40 million Dollars for women’s evaluation alone. Some say it’s not possible to be weaponised. I travelled to Kainji with some of my engineering team and came up with the idea that we could do it. We developed a kind of Schematic drawing and computerised it so that when a particular bottom is pressed, you can imagine what the final outcome would be; we made a presentation to Air Marshall Sadiq Abubakar, who’s passionate about research and development in the Military, who he was so impressed and gave us go ahead. We bring the product out and comment somewhere like, this man, you have been given Vice Marshall already; what are you still looking for? Do you want to become the Chief or what?
The Germans said it was impossible, but you and your team have done it. As soon as we were mobilised, we had to come up with many models. They were tested and commissioned with only 5 Million Naira to weaponise the 4 Aircraft. Those Alfa-Jets are still flying today.

There are lots of scientific innovations going on and being achieved in the Military; it’s just that we don’t publish them due to policies.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

news

Update :FG Unveils Additional 10 Steps to Reduce Impact of Rising Fuel Prices

Published

on

Ok

The Federal Government has announced ten new measures to reduce the pain Nigerians feel from high fuel prices. It insists, however, that none of them brings back the old fuel subsidy for everyone.

The measures were presented by the Federal Ministry of Finance at a press briefing on Thursday, 8 October 2026, titled “Fuel Prices and the Subsidy Question.” The government admitted its earlier steps fell short. According to the presentation, “These measures do not fully relieve the pressure households feel today, so the government is going further.”

The government described the new package as “Help that is targeted, temporary and affordable.” In plain terms, the help is meant for those who need it most, will not last forever, and is designed so that the country can pay for it.

Cheaper petrol and more cash support

The first measure is a discount on petrol sold at NNPC filling stations. The discount will last for the next 30 days, and public transporters, such as commercial bus and taxi operators, will get priority. The government hopes this will help keep transport fares from rising further.

The government also plans to increase cash transfers to vulnerable households. Small businesses will get cheaper loans, known as subsidised credit, to help them cope with higher running costs.

Steps to keep pump prices steady

To protect Nigerians from sudden jumps in world oil prices, the government will sell crude oil in advance to local refineries. This is expected as oil production rises and crude previously committed to other purposes becomes available. The presentation says this will shield “pump prices from global swings.” ShopAfrican Art

The government will also introduce what it calls price modulation. Under this plan, a negotiated limit of ₦1,350 per litre will apply to the ex-gantry price (the price at the depot) or the landing cost (the cost of bringing the fuel into the country). The limit will be reviewed every month, so it can change as conditions change.

A National Strategic Fuel Reserve will also be set up. Fuel from the reserve will be released “under published rules when disruption or hoarding threatens supply.” This means the government can step in when fuel becomes scarce or when marketers hold back products to push up prices.

Lowering the cost of transport and doing business

The government says part of what Nigerians pay for transport comes from illegal charges on the roads. It will work with state governments under the 2025 tax laws to rein in road taxes that push up fares.

It will also speed up the rollout of compressed natural gas (CNG) as a cheaper alternative to petrol, again working with the states. Transporters who benefit from cheaper fuel are expected to “pass savings on in lower fares” to passengers.

Other steps target the cost of goods and services more broadly. The government will cut regulatory costs, described as red tape, that “feed into the price of goods and services.” It will also ease traffic in cities to save fuel, and it will use NIPOST address codes to reduce the cost of moving goods from one place to another.

One measure has not yet been decided. The government is considering an excess profit tax on operators it says exploit consumers. If it goes ahead, the money raised will fund transport support and vouchers for low-income earners.

No return to blanket subsidy

The ministry ended the presentation with a clear message, “None of these measures restores a blanket subsidy.” The government is therefore not returning to the old system, where fuel was sold cheaply to everyone. It says its new approach will reach “the people who need help without putting the wider economy at risk.”

The announcement comes as many households as possible, and businesses struggle with the high cost of transport, food, and other goods linked to fuel prices. How much relief Nigerians feel will depend on how quickly and effectively these measures are carried out, and whether transporters and marketers pass the benefits on to consumers.

Continue Reading

news

Nigeria Emerges as Africa’s Biggest Climber in Investment Risk Ranking on Back of Tinubu’s Economic Reforms

Published

on

Nigeria has emerged as the biggest climber in Africa’s latest investment risk ranking, rising four places to eighth position as economic reforms implemented by President Bola Tinubu improved the country’s relative attractiveness to investors, a new report by Bloomberg has stated.

Nigeria overtook Rwanda, Tanzania, Kenya and Namibia in the 2026 Bloomberg Economics Investment Risk-O-Meter, which assesses the relative investability of 19 African economies.

Bloomberg, in the report released on Monday, said Nigeria’s improvement was driven by stronger performance in three of the five indicators used in the assessment: economic strength, fiscal strength and external vulnerability.

“Nigeria was the biggest climber in a ranking of Africa’s most investable markets, propelled by President Bola Tinubu’s economic reforms, according to the findings of the latest edition of An Investor’s Guide to Africa.

“The continent’s biggest oil producer and refiner rose four places to eighth in the 2026 Bloomberg Economics Investment Risk-O-Meter, overtaking Rwanda, Tanzania, Kenya and Namibia as it improved in three of the five metrics assessed by the gauge: economic strength, fiscal strength and external vulnerability,” Bloomberg reported.

The development puts Nigeria among the biggest gainers on the continent, despite ongoing concerns about the country’s high public debt, cost of living, inflation, infrastructure deficit and foreign exchange pressures.

Mauritius emerged as the most investable African market in the latest ranking, while Botswana fell two places. South Africa, which topped the ranking in the previous edition, also dropped one place following a weaker economic growth outlook.

Nigeria’s improved position comes more than three years after Tinubu assumed office and embarked on a series of major economic reforms aimed at restructuring the country’s fiscal and monetary environment.

Add to Preferred Sources
Among the most significant measures were the removal of the petrol subsidy, reforms to the foreign exchange market and changes to electricity tariffs.

The Federal Government has repeatedly defended the reforms as necessary to address distortions that had weighed on public finances, discouraged investment and placed pressure on foreign exchange reserves.

However, the policies have also increased economic hardship for households and businesses, particularly through higher transport, food and energy costs. Despite the adjustment pains, Nigeria’s economy has continued to expand during the period under review.

Real Gross Domestic Product growth rose from 2.54 per cent in the third quarter of 2023 to 3.46 per cent in the fourth quarter of that year.

The economy subsequently grew by an average of 3.19 per cent in 2024 before accelerating to 3.85 per cent in 2025, its strongest annual performance within the period covered by the assessment.

Growth stood at 3.89 per cent in the first quarter of 2026, bringing the average quarterly growth between the third quarter of 2023 and the first quarter of 2026 to about 3.46 per cent.

The stronger growth performance has come alongside efforts by the government to increase revenue, reduce fiscal leakages and attract investment into critical sectors of the economy.

Nigeria’s improved position in the Bloomberg ranking, however, comes against the backdrop of a substantial increase in public debt.

Data from the Debt Management Office showed that Nigeria’s total public debt stood at N87.38tn as of June 30, 2023, shortly after Tinubu took office. By December 31, 2025, the figure had risen to N159.28tn. This represents an increase of N71.90tn, or about 82.3 per cent, in two and a half years.

The increase was driven by new borrowing, foreign exchange adjustments and the securitisation of certain legacy obligations, according to the DMO.

The development is significant for a country that has struggled for years to attract sufficient foreign capital because of concerns over exchange-rate instability, policy uncertainty, weak infrastructure, insecurity and limited fiscal space.

The reforms under the Tinubu administration have sought to address some of these constraints by allowing market forces a greater role in determining fuel prices, foreign exchange rates and electricity tariffs.

The foreign exchange reforms, in particular, were designed to reduce multiple exchange rates and improve transparency in the currency market, while the removal of the petrol subsidy was intended to reduce the government’s fiscal burden.

The electricity tariff reforms were also aimed at improving the financial viability of the power sector and encouraging investment by allowing electricity prices for some customer categories to better reflect supply costs.

Nigeria’s rise in the Bloomberg ranking therefore marks an improvement in its relative position among African investment destinations, even as investors continue to monitor the sustainability of its reforms, debt burden and economic growth.

Continue Reading

news

Update : Tinubu Expected Back in Abuja Today After Six-Day Stay in Lagos

Published

on

 

President Bola Ahmed Tinubu is expected back in Abuja this evening after concluding a six-day stay in Lagos, the Presidency announced on Monday.

The President will depart Lagos for the Federal Capital Territory after a visit during which he participated in activities marking Nigeria’s 66th Independence Day anniversary and held other engagements. SahelSecurity Report

Tinubu arrived in Lagos on Tuesday, September 29, following his annual holiday in London and Paris.

While in Lagos, the President addressed Nigerians on October 1 to mark the country’s 66th Independence Day anniversary.

Later that day, he attended the national premiere of MKO, a documentary chronicling the life, political struggle, and legacy of the late Chief Moshood Kashimawo Olawale Abiola, as well as the historic June 12 pro-democracy struggle.

Powered by VidCrunch
The premiere was held at the Wole Soyinka Centre for Culture and Creative Arts in Lagos.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the President’s return to Abuja in a State House statement issued on Monday.

“President Bola Ahmed Tinubu will depart Lagos for Abuja this evening after his six-day visit to the former seat of government,” Onanuga said.

 

 

 

 

 

 

 

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved