BEVERLY HILLS, September 26, (THEWILL) – The Tertiary Education Trust Fund (TETFund) says increasing domestic investment in research would fast track development in the country.
Speaking at the inauguration of a TETFUND Standing Committee on Research and Development, Executive Secretary, Prof. Suleiman Bogoro commended the government for the recent increase in research grants to N7.5 billion from N5 billion. He however called for increase in its annual funding for Research and Development (R&D).
Prof. Bogoro while canvassing the promulgation of a law for National R&D Foundation (NRDF) to deepen research in the country, said “in order 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.
The R&D Standing Committee is expected to come up with recommendations on the required amounts suitable for efficient research activity in the country.
Inaugurating the Committee, Minister of Education, Malam Adamu Adamu, charged members of the committee to put their best to the national assignment. Represented by the Minister of State for Education, Hon. Chukuemeka Nwajuiba, Adamu said that continued investment in research would herald a rebirth of Nigeria. “Nigerians voted us into power predicated on our being able to transform our national aspirations and make them a national achievement”, he added.
Meanwhile 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 lamented the way Nigeria has shown less concern for research, saying that many developed countries invested in research and development to improve their economy. He tasked beneficiaries of research grants to take advantage of the initiative to solve problems for the betterment of the country.
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