As part of efforts towards revamping the Nigerian economy through promotion and investments in groundbreaking research and innovations, the maiden edition of the much-publicized Tertiary Education Trust Fund (TETFund) National Research Fair/Exhibition has been held in Abuja with innovators, researchers and inventors on the ground to showcase various innovative projects.
The 5-day event which was held between 17th and 21st November 2024 represented a significant landmark in TETFund’s quest for promotion of groundbreaking research and innovations and provided an opportunity for researchers and inventors to display local solutions capable of supporting national development.
Speaking at the opening ceremony of the event held at the Eagle Square, the Honourable Minister of Education, Dr. Maruf Alausa stated that only impactful research and innovation could equip Nigeria with needed elements to transform its fortune, adding that the Federal Government is committed to leveraging research and for economic growth.
He stated that despite being the first of its kind, the event would be held annually to unleash the innate capacities of millions of young Nigerians by giving them opportunities to contribute to economic development through innovation.
Dr. Alausa noted that Europe, America and Asia thrived when they discovered the rule of law, free market and research-based innovation, and emphasized that it was the direction for Africa and Nigeria to take in addressing the numerous challenges facing the continent. He maintained that the Federal Government through TETFund would sustain its investments in research.
“Permit me to share with you that, once upon a time, not so many centuries ago, there was a poor continent. Its name was Europe. Then it discovered three things: the rule of law, the free market, and research-based innovation. Now it is rich.
“The same thing later happened in North America, with the same consequences, and it is now happening in Asia. The success of our vision and development agenda largely depends on whether Nigeria will also learn from these experiences,” he said.
The minister called on “funding and financial institutions, including commercial banks, to reform their support to strategically help Nigerians establish small and medium enterprises using home-grown technologies.”
Speaking at the event, the Executive Secretary of TETFund, Arc. Sonny Echono stated that the exhibition was aimed at showcasing research outcomes from the Fund’s Beneficiary Institutions, as well as other innovations both from the formal and informal sector with the aim of connecting them to Industry for prototype upscale and commercialization.
He added that the exhibition was also an effort by the Fund to ensure innovators and researchers contribute their quota to revamping the country’s economy, create jobs, as well as generate and redistribute wealth among Nigerians.
“This maiden fair is part of TETFund’s efforts to ensure that research outputs address societal problems and improve the standard of living for Nigerians. Prototypes from various research and development initiatives are being exhibited, highlighting innovations that can create jobs and wealth while revamping the economy,” he stated.
Also speaking at the event, the Chairman, Board of Trustees of TETFund, Rt. Hon. Aminu Masari reiterated the commitment of the TETFund Board to research development in tertiary institutions, adding that the paucity of funds required for promoting cutting-edge research that are crucial to national development will be significantly addressed under his leadership.
