The Nigeria Impact Investing Research and Industry Collaborative Stakeholder Mapping Report, a groundbreaking study funded by the UK Government’s Research and Innovation Systems for Africa Fund, has shed light on the significant obstacles hindering research commercialization in Nigeria. The report, launched by the Impact Investors Foundation, paints a picture of a fragmented innovation ecosystem plagued by weak commercial pathways, a lack of coordination amongst research institutions, and insufficient funding, all of which prevent the translation of promising research into tangible economic benefits. This disconnect between academic output and real-world application represents a missed opportunity for Nigeria to leverage its research potential for innovation-driven economic growth and development. The report serves as a call to action, urging stakeholders to address these critical bottlenecks and unlock Nigeria’s latent innovative capacity.
One of the most prominent challenges identified in the report is the weakness of commercialization pathways. Many potentially impactful research projects languish in academia, lacking structured routes to industry application. This absence of clear channels for transitioning research from the laboratory to the marketplace creates a significant barrier to commercial success. Furthermore, the report highlights the fragmentation of the innovation ecosystem, with research institutions operating in silos and lacking a centralized platform for collaboration. This uncoordinated approach leads to duplicated efforts, missed opportunities for synergy, and a failure to capitalize on the collective intellectual capital within Nigeria’s research community.
The report also underscores the crucial role of the private sector in research commercialization and the deterrents that currently limit its involvement. Weak intellectual property protection and ambiguous commercialization guidelines create an uncertain environment for potential investors, discouraging them from engaging with research institutions. This reluctance to invest further restricts the development and scaling of innovative solutions, hindering the potential for economic growth and job creation. The lack of private sector investment also perpetuates the cycle of underfunding, preventing necessary infrastructure upgrades and limiting the capacity for sustained innovation.
The chronic underfunding of research and development in Nigeria represents another significant impediment to commercialization. The report emphasizes the need for increased investment to support the development of necessary infrastructure, including state-of-the-art laboratories, equipment, and technical expertise. Adequate funding is also essential for attracting and retaining skilled researchers, fostering a vibrant research culture, and providing the resources needed to translate research findings into commercially viable products and services. Without sufficient investment, Nigeria’s research ecosystem will struggle to compete on the global stage and realize its full potential.
The report’s findings have been met with a sense of urgency and a renewed commitment to addressing the challenges hindering research commercialization. Etemore Glover, CEO of the Impact Investors Foundation, hailed the report as a “game-changer,” providing the necessary clarity to guide collaborative efforts, attract investment, and establish a thriving research commercialization framework. Oretanya Oreva, Director of the Lagos Business School Sustainability Centre, echoed this sentiment, emphasizing the importance of scaling innovations to promote self-sufficiency and national development. Both leaders stressed the crucial role of strengthening research-industry partnerships in driving economic transformation.
The report advocates for a comprehensive and coordinated national strategy involving academia, industry, government, and investors. This collaborative approach is essential for translating promising research into scalable, impactful businesses. By fostering stronger partnerships, streamlining commercialization pathways, strengthening intellectual property protection, and securing sustainable funding, Nigeria can unlock its vast innovation potential and position itself as a leader in innovation-driven growth. This requires a concerted effort from all stakeholders to create an enabling environment where research can flourish and contribute meaningfully to the nation’s economic prosperity.
