The Minister of Science, Technology and Innovation, Kingsley Udeh, has said that Nigeria is yet to realise the expected economic benefits from the significant investments made in research and development across its academic and research institutions.
Udeh made this known on Thursday during a strategic meeting on the commercialisation of scientific research outcomes held in Abuja. The meeting brought together commissioners of science, technology, and innovation from across the country, alongside key stakeholders in the research and innovation sector.
Speaking at the event, the minister said the gathering was necessary to address the persistent gap between scientific research conducted in Nigerian institutions and its translation into economic value and practical solutions for national development.
“This meeting is both timely and necessary. It is a known fact that Nigeria is one of the countries in Africa that has invested to an appreciable extent in research and development across our universities, polytechnics, and research institutes,” Udeh said.
Despite these investments, he noted that the country has yet to fully benefit economically from the innovations and discoveries produced within its academic and research environments.
“Yet, the economic returns on these investments remain below expectations,” the minister added.
Udeh explained that the Federal Government is increasingly concerned about the low level of commercialisation of research outputs, which has limited the potential of Nigerian innovations to create jobs, stimulate industrial growth, and contribute meaningfully to the nation’s economy.
According to him, many groundbreaking ideas generated within universities and research institutes often remain confined to academic publications or laboratory experiments instead of being transformed into marketable products and services.
The minister stressed that bridging this gap requires stronger collaboration between researchers, government agencies, and the private sector to ensure that scientific discoveries are developed into commercially viable solutions.
He also emphasised the need for improved policies and institutional frameworks that encourage technology transfer, innovation-driven entrepreneurship, and partnerships with industries capable of scaling research outputs into profitable ventures.
Participants at the meeting discussed strategies for strengthening innovation ecosystems across the country, including improving funding structures, creating incentives for researchers, and establishing mechanisms to support the commercialization of intellectual property generated by Nigerian scientists.
Udeh expressed optimism that with the right policy direction and sustained collaboration among stakeholders, Nigeria could unlock the vast potential of its research institutions and transform scientific discoveries into economic assets that drive national development.
He added that promoting the commercialization of research would not only boost the country’s innovation capacity but also help position Nigeria as a competitive hub for science and technology in Africa.
