Business
Impact Investors Launches New Report to Strengthen Nigeria’s Research, Innovation, and Commercialization Ecosystem
Etemore Glover, CEO of Impact Investors Foundation, said: “By mapping out key players and identifying the challenges they face, we now have a clear direction for collaboration to bridging gaps and creating a thriving research commercialization framework,”
The Impact Investors Foundation (IIF), has launched a comprehensive Nigeria Impact Investing Research and Industry Collaborative (NIIRIC) Stakeholder Mapping Report to identify critical gaps and collaboration opportunities in Nigeria’s research, innovation, and commercialisation landscape.
In a statement, Ifeoluwa OgunfuwaAssistant Manager, Impact Investors Foundation, disclosed that the pivotal study officially launched in Lagos at a virtual event, provides an in-depth assessment of Nigeria’s research ecosystem, identifying key public and private stakeholders involved in research and innovation, as well as those who utilize research findings.
It reads: ” Funded by the UK International Development of the UK Government in the third phase of the Research and Innovation Systems for Africa (RISA) Fund’s Sustainable Systems for Research and Innovation Financing Project (SSRIF II), this report provides vital data to drive policy reforms, strategic investments, and cross-sector collaboration among key stakeholders, including academia, government, industry, and investors.
The Nigerian research and innovation ecosystem is a dynamic yet under-optimised network involving key stakeholders across academia, government, private sector, non-governmental organizations (NGOs), financial institutions, and international bodies.
The gap between academia and industry remains a significant challenge, compounded by inadequate funding, outdated infrastructure, and a lack of coordination among research bodies.
This report provides actionable recommendations to foster an environment where research is not only published but also translated into impactful, scalable businesses.
The study called for an alignment between academia, industry, government, and other stakeholders to unlock Nigeria’s full potential in innovation-driven economic growth.
Key findings from the report include the following:
• A lack of structured pathways for commercialization is a barrier that limits its impact on economic development.
• The absence of a centralized platform has led to fragmented efforts and missed opportunities for scaling innovations.
• Weak intellectual property protection, limited funding, and unclear commercialization guidelines remain barriers to private-sector engagement.
• Strategic partnerships and dedicated financing mechanisms can accelerate the transformation of research into market-ready solutions.
“This report is a game-changer for Nigeria’s research ecosystem. “
Etemore Glover, CEO of Impact Investors Foundation, said: “By mapping out key players and identifying the challenges they face, we now have a clear direction for collaboration to bridging gaps and creating a thriving research commercialization framework,”
“We aim to leverage the report’s insights to scale innovations that positively impact the community.
Oretanya Oreva, Director, Lagos Business School Sustainability Center and Lead, Capacity Building, NIIRIC Steering Committee, added : “Our priorities are to promote local innovation and self-sufficiency, both locally and nationally, and to cultivate a robust collaboration ecosystem between researchers and industry.”
Business
Chinese investors establish $20m Lithium plant in Kwara with pharmaceutical plant underway
According to Sun, the company currently employs more than 300 workers, most of whom are indigenes of Kwara State.
Image: Lithium mineral
A Chinese firm, ER KANG Company Limited, has established a $20 million lithium processing factory in Kwara State.
ER KANG is also establishing a pharmaceutical manufacturing company in Kwara, valued at over $15 million, bringing the total Chinese investment in the state to approximately $35 million.
Team lead of the company, Sun Qing Rong, disclosed this in Ilorin during a meeting with Governor AbdulRahman AbdulRazaq on Wednesday.
He said the lithium plant is already operational and the investment is intended to prevent the export of raw minerals without processing.
Sun explained that the facility converts lithium into ready-to-use industrial materials, ensuring the mineral is processed locally rather than exported in its raw form.
He noted that the initiative aligns with government policies promoting value addition in the state.
According to Sun, the company currently employs more than 300 workers, most of whom are indigenes of Kwara State.
Business
NAFDAC misleads the Senate to ban sachet alcohol – MAN
Business is based on data and logic. Not sentiment. Data is key. Bring your data. Alcohol is not produced for children.
Photo by Ochefa / Ohibaba.com; 28 January 2026
The leadership of the Manufacturers Association of Nigeria (MAN), on Wednesday accused the nafdac to have misled the Senate to approve the ban on sachet alcohol and PET bottles.
The leadership of the association made the accusations on the occasion of the 10th edition MAN Media Personality Awards/ Presidential Media Luncheon, held in Lagos.
Francis Meshioye, the president of the association, and Segun Ajayi-Kadir, Director -General of MAN, emphasised that NAFDAC didn’t provide the Senate with empirical data showing the negative impacts of alcohol on children.
“Business is based on data and logic. Not sentiment. Data is key. Bring your data. Alcohol is not produced for children.
It is clearly written on the sacrhet it is for people 18+; the companies producing them have done the campaigns; they have NAFDAC numbers. So NAFDAC should do its job.
They misled the Senate they didn’t give enough information to the Senate,” said Ajayi – Kadir.
Meshioye urges the government to prevail on the regulator to suspend the ban, because, “When manufacturing thrives, Nigeria thrives..when manufacturing wins, government wins.”
Business
CBN grants Opay, Moniepoint, Kuda Palmpay and Paga national banks status
With national licenses, these FinTechs are subject to higher capital requirements, for example, N5 billion for national MFBs, and must maintain offices for dispute resolution while continuing to drive financial inclusion.
• CBN Governor Olayemi Cardoso
THE Central Bank of Nigeria (CBN) has upgraded the licenses of major FinTech companies and Microfinance Banks, including Opay and Moniepoint, to national status, allowing them to operate across the country following compliance with regulatory requirements.
The upgrade applies to key players such as Moniepoint MFB, Opay, Kuda Bank, Palmpay, and Paga, which have grown rapidly through mobile technology and agent networks, effectively outgrowing their previous regional licenses.
The Director of the Other Financial Institutions Supervision Department, Yemi Solaja, confirmed this development in Lagos at the annual conference of the Committee of Heads of Banks’ Operations,
He said: “Institutions like Moniepoint MFB, Opay, Kuda Bank, and others have now been upgraded. In practice, their operations are already nationwide.”
Solaja emphasized the importance of physical presence for customer support, noting “Most of their customers operate in the informal sector.
They need a clear point of contact if any issues arise.
”With national licenses, these FinTechs are subject to higher capital requirements, for example, N5 billion for national MFBs, and must maintain offices for dispute resolution while continuing to drive financial inclusion.
The reform follows previous enforcement actions, including 2024 penalties of N1 billion each on Moniepoint and Opay for KYC non-compliance, underscoring the CBN’s ongoing efforts to strengthen standards in digital finance
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