The establishment of National Research and Innovation Development Fund (NRIDF) has been approved by the Federal Executive Council (FEC), presided by President Bola Ahmed Tinubu.
NRIDF is targeted at enhancing the research, science, technology and innovation ecosystem of Nigeria.
This was made known Via a Press Release by the Federal Ministry of Information and National Orientation on Monday 11 May, 2026.
A seventeen (17) member National Council on Research and Innovation will manage the NRIDF. The Council will be chaired by the Vice President, Kashim Shettima, while, the Vice Chairman will be the Minister of Innovation, Science and Technology.
The Press Release signed by Mrs. Pauline Sule, Head, Press and Public Relations, reads: “The Federal Executive Council (FEC) presided by President Bola Ahmed Tinubu, GCFR, has approved the establishment of National Research and Innovation Development Fund (NRIDF), in a landmark move aimed at strengthening Nigeria’s research, science, technology and innovation ecosystem.
“The NRIDF will be overseen by a seventeen member National Council on Research and Innovation to be chaired by the Vice President of the Federal Republic of Nigeria, while the Honourable Minister of Innovation, Science and Technology will serve as the Vice Chairman, alongside other members as proposed.
“The National Research and Innovation Development Fund will operate under the supervision of the Federal Ministry of Innovation, Science and Technology (FMIST), which will coordinate and provide institutional oversight for its implementation.”
Dr. Kingsley Tochukwu Udeh, SAN, Honourable Minister of Innovation, Science and Technology, who praised the approval, said, “it as a major breakthrough in the Federal Government’s commitment towards building an inclusive, sustainable and innovation-driven economy towards a $1 trillion GDP in alignment with the Renewed Hope Agenda” of the President.
Udeh said, the fund will pass through “necessary legislative, administrative and operational processes before full implementation and disbursement can commence.’
The Minister added, when it becomes fully functional, the NRIDF will “provide strategic funding support for researchers, innovators, technology developers and startups across the country”.
He said, the move “would boost local research capacity, promote commercialization of research and innovation, strengthen collaboration between academia and industry, and position Nigeria more competitively within the global knowledge and technology economy.”
