Vice President Kashim Shettima has inaugurated the Interministerial Committee on Research and Innovation, charging it with the task of steering Nigeria toward an innovation-driven, trillion-dollar economy within the next decade.
Speaking at the inauguration at the Presidential Villa in Abuja, Shettima said the committee will coordinate research and investment across five strategic sectors: agriculture and climate resilience, manufacturing, healthcare, natural resources, and energy—all of which hold high-growth potential for local businesses and startups.
The initiative, which aligns with President Bola Ahmed Tinubu's Renewed Hope Agenda, is positioned as a major step in transforming Nigeria into an innovation powerhouse. "We are here to build Nigeria into a trillion-dollar economy. The future is not inherited—it's created," the Vice President declared.
He emphasized the need for practical solutions that go beyond metrics and dashboards. "What will it take to reduce our food import bill by 50%? How do we triple local pharmaceutical production? These are questions that demand targeted research, investment, and alignment across sectors," he said.
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Shettima outlined the sectors of focus:
- Agriculture and climate resilience: Develop innovations that secure food supply and protect the environment.
- Manufacturing excellence: Build strong local supply chains and reduce dependence on imports.
- Healthcare innovation: Shift from importing medicines to exporting homegrown medical breakthroughs.
- Natural resource optimisation: Move beyond raw exports to value-added products.
- Energy security: Create sustainable power systems to drive businesses and the economy.
For small businesses, this development offers a framework that can unlock new funding, local sourcing opportunities, and innovation support.
Shettima also announced that this committee is a precursor to an annual Presidential Plenary on Innovation, which will be chaired by President Tinubu and will bring together academia, the private sector, civil society, and development partners to align national innovation goals.
Minister of Innovation, Science, and Technology, Uche Nnaji, added that the new committee will reduce duplication across ministries and ensure efficient use of public funds through collaboration. "The keyword here is collaboration. This approach will save money and drive real progress," he said.
For local innovators, SMEs, and startups, this marks a strategic opportunity to plug into national research programs and emerging sectors that are central to Nigeria's economic growth strategy.
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