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The gap between academia and industry remains a significant challenge, compounded by inadequate funding, outdated infrastructure, and a lack of coordination among research bodies.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
Woman demands $250,000 from Promasidor over son’s death at factory
A few hours after reporting to the factory, Patrick reportedly fell from a rooftop into a warehouse and died.
• Patrick Ogbu
One Mrs Susan Ogbu has filed a $250,000 lawsuit against Promasidor Nigeria Ltd.; its parent company, Promasidor Holdings; and several others over the death of her 26-year-old son, Patrick Ogbu.
The suit, filed at the National Industrial Court in Lagos, alleged gross negligence and unsafe work practices.
Other defendants named in the case are Mr Dapo Omolade (operating under the Dapo Omolade Empowerment Initiatives), Hybrid Group Limited, Hybrid HSE Limited, Bohlar Integrated Services, and the Minister of Labour and Employment.
In the suit marked NICN/LA/361/2024, Mrs. Ogbu, through her counsel David Kupolati, is demanding N300 million in compensation, and N150 million in general damages from the defendants, citing wrongful death due to negligence.
She is also seeking a court order for a 21 per cent annual interest on the judgment sum until it is fully paid, along with N5 million, in legal costs.
Patrick Ogbu joined the HSE trainee program operated by Omolade and Hybrid Group on April 1, 2024, under an offer letter dated March 4, 2024.
The program promised technical skills training in health and safety and offered a monthly stipend of N65,000.
According to the claimant, her son, Patrick was, on August 9, 2024 assigned to Promasidor Nigeria’s factory through an arrangement between Bohlar Integrated Services and Promasidor.
A few hours after reporting to the factory, Patrick reportedly fell from a rooftop into a warehouse and died.
“Sadly a few hours after the claimant’s son left home to resume work at the Promasidor (fifth defendant) project site, she received the sad news that her son had fallen from the factory rooftop into the warehouse and died almost immediately.
“The unfortunate, sad and premature death of her son arose due to the gross negligence and unsafe practices of Dapo Omolade, Hybrid Group, Hybrid HSE Limited, Bohlar Integrated Services and Promasidor Nigeria,” she said.
His mother blamed the accident on the “gross negligence and unsafe work conditions” at the site, attributing responsibility to all the defendants.
Mrs Ogbu is also requesting that the court compel the Minister of Labour and Employment to investigate the operations of the DOME initiative and impose sanctions on all responsible parties.
She further seeks an order for a full health and safety audit of Promasidor’s factories and a formal inquiry into the company’s labour practices across Lagos and Ogun states.
Source: PUNCH
Commercial banks in Nigeria, including Guaranty Trust Bank customers will commence payment of N6 for every SMS transaction alert starting tomorrow.
This is coming on the heels of the increase in telecommunications rates by telecommunications providers following a nod by the federal government.
The SMS charges were increased by 50% to N6 from the previous N4 per message.
Various banks had sent emails to their customers to inform them of the current change.
An email from Guaranty Trust Bank Limited with the heading “Increase in SMS Transaction Alert Fee” read:
“Dear Valued Customer, Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message.
This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers.
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account.
“SMS alerts to international phone numbers are subject to higher charges.”
Business
NNPC Sacks 200 Mele Kyari’s Loyalists
Those departing immediately are Bala Wunti, former chief of National Petroleum Investment Management Services (NAPIMS), and Ibrahim Onoja, managing director of the Kaduna Refinery.
The Nigerian National Petroleum Company (NNPC) Ltd has appointed Maryam Idrisu as Managing Director of NNPC Trading and Obioma Abangwu as Chief Liaison Officer for Board Matters.
This followed the reported sack of over 200 staff, including loyalists of the former Group Chief Executive Officer (GCEO), Mele Kyari.
BusinessDay reported that those departing immediately are Bala Wunti, former chief of National Petroleum Investment Management Services (NAPIMS), and Ibrahim Onoja, managing director of the Kaduna Refinery.
Also asked to leave is Lawal Sade, the Chief Compliance Officer and former Managing Director of NNPC Trading.
It was gathered that over 200 employees have been impacted, marking the beginning of what may be a series of staff changes.
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