Nigeria's $500M Research Fund: Road to $1T Economy?

Nigeria's Federal Government approves the National Research and Innovation Development Fund (NRIDF), targeting $500 million annually to drive research, innovation, and commercialization. Education Minister Tunji Alausa announced the initiative to foster collaborations, strengthen infrastructure, and support President Tinubu's $1 trillion economy goal, drawing lessons from South Korea and Singapore. The fund, chaired by VP Kashim Shettima, emphasizes non-budgetary funding and minimal bureaucracy.