Connect with us

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,”

Published

on

582 Views

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The gap between academia and industry remains a significant challenge, compounded by inadequate funding, outdated infrastructure, and a lack of coordination among research bodies.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.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

BUA Chairman Rabiu shares South Africa visa entry denial experience at Africa CEO Forum

Rabiu said the experience highlighted the difficulties Africans still face when travelling within the continent despite ongoing talks about African integration and economic cooperation.

Published

on

By

48 Views

The founder and Chairman of BUA Group, Abdul Samad Rabiu, has recounted how he was denied entry into South Africa after his visa expired a day before his trip, while European travellers were reportedly allowed into the country without visas.

Rabiu shared the experience on Thursday while speaking on “Africa at Scale: Capital, Policy and the Architecture of Growth” at the ongoing Africa CEO Forum in Kigali, Rwanda.

He said that the incident occurred in February 2025 when he travelled from Lagos to Cape Town for the Mining Indaba conference.

He said that immigration officials stopped him on arrival after discovering that his visa had expired the previous day.

Rabiu explained that he and his team spent about four hours at the airport before he was eventually returned to Lagos.

“I take full responsibility because my visa had expired and my crew failed to notice it before the trip,” he said.

However, the businessman said that he became concerned after noticing that passengers arriving on multiple flights from Europe were allowed into South Africa without visas while he, as an African, was denied entry.

“While we were waiting at the immigration desk, there were about three international flights from Europe. Most of the passengers were Europeans, and they all entered Cape Town without visas,” he said.

Rabiu said the experience highlighted the difficulties Africans still face when travelling within the continent despite ongoing talks about African integration and economic cooperation.

“I did not have a problem with being returned because I had no valid visa. My issue was being an African in Africa and being denied entry, while foreigners from other continents were allowed in freely without visas,” he said.

He called for reforms in visa and immigration policies across the continent, stressing that Africa cannot achieve meaningful economic integration while Africans continue to face barriers moving within African countries.

Continue Reading

Business

At Africa CEO Forum, President Tinubu Highlights “Partnerships That Moves Africa Forward”

“With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment. That partnership is how Africa moves forward”.

Published

on

By

49 Views

President Bola Ahmed Tinubu during a panel session at the ongoing Africa CEO Forum, called for “Partnership that can move Africa forward.”

He advocated an “Africa First” approach to development, insisting that African resources should primarily benefit the continent through local processing and manufacturing.

“We don’t want scavengers and extractors. We want partners who process and manufacture locally,” said President Tinubu.

He said that his administration’s policies were positioning Nigeria as an open and competitive destination for investment.

“In Nigeria, we’ve attracted nearly $20 billion in direct investment this year because we are efficient, transparent, and open for business,” President Tinubu said.

President Tinubu attributed the inflow to reforms aimed at improving transparency, efficiency, and investor confidence in the country.

He said that Nigeria would no longer permit the export of raw minerals without local value addition, noting that the country possesses the capacity to manufacture products such as electric vehicle batteries from its mineral resources.

He said: “With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment. That partnership is how Africa moves forward”.

Continue Reading

Business

Obi Meets UK Business Leaders, Advocates Stronger Support for MSMEs

Published

on

107 Views

Presidential hopeful of the National Democratic Congress (NDC), Mr. Peter Obi, has reiterated the critical role of micro, small, and medium-sized enterprises (MSMEs) in driving Nigeria’s economic growth and reducing unemployment.

Obi made the remarks on Tuesday following a series of meetings in London with stakeholders in British politics and the business community, including Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC).

According to Obi, discussions with Lord Marland focused on prospective trade opportunities, economic advancement, and strategies for promoting small businesses across Nigeria.

Drawing comparisons with rapidly developing economies such as China, Indonesia, and Vietnam, Obi stressed that sustainable economic growth and job creation can only be achieved through deliberate support for MSMEs.

The former Anambra State governor maintained that small businesses remain the backbone of the economy and called for stronger policies aimed at boosting development and creating employment opportunities, particularly in the agriculture and manufacturing sectors.

Continue Reading

Trending