Senate advances bill to establish research, innovation fund

From Adesuwa Tsan, Abuja
The Senate on Thursday passed for second reading a bill seeking to establish a National Research and Innovation Development Fund, with a proposed annual allocation of 20 per cent of the Nigerian Content Development Fund to finance research, indigenous technology and the commercialisation of inventions in Nigeria.
It is aimed at addressing funding and coordination gaps in the country’s research sector and strengthening the link between academic discoveries, industrial development and economic growth.
Sponsored by the Senate Leader, Opeyemi Bamidele, but presented for consideration by Senate Chief Whip, Tahir Mungonu, the National Research and Innovation Devel...