The Executive Secretary of the Tertiary Education Trust Fund, Elias Suleiman Bogoro, on Thursday, appealed to the Federal Government of Nigeria to increase its annual funding for research and development to $1bn (an equivalent of N381.5bn).
Bogoro, made the appeal in Abuja during the inauguration of over 160-member TETFund Research and Development Standing Committee chaired by Prof. Njidda Gadzama.
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He commended President Muhammadu Buhari for the recent increase of the research grant from N5bn to N7.5bn, saying massive investment in research would bring about the desired development in the country.
“We need a robust institutional framework and arrangement for the NRDF.
“I’m recommending a minimum annual budgetary threshold of $1bn as the funding portfolio for this Foundation,” he said.
“When we consider the inevitable benefits of R&D and the inevitable benefits of R&D and the socio-economic challenges in Nigeria, this amount begins to look like a drop of water in the ocean-population of 200 million people in 2020 and projected to become double in 10 years for now,” he said.
Bogoro said the committee was expected to come up with recommendations on the required amount suitable for efficient research activities in Nigeria.
Education Minister Adamu Adamu, who inaugurated the committee, said continued investment in research would herald a rebirth of Nigeria.
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