Dr. Uche Nnaji, Nigeria’s Minister of Innovation, Science, and Technology, emphasized the importance of impactful research in transforming Nigeria into an investment hub during the First Annual Convening of the Nigerian Impact Investing Research and Industry Collaborative (NIIRIC). This event, themed “Impact Investing: Shaping Policies, Research, and Innovation to Commercialisation – The Roadmap to 2025,” highlighted the potential of research outcomes that tackle both local and global issues to attract investors to Nigeria. Nnaji, represented by Dr. Patricks Oghuma, stressed the need for a robust policy framework that promotes collaboration among academia, industry, and government. By creating an environment conducive to innovation, addressing funding gaps, providing access to infrastructure, and fostering partnerships, Nigeria can enhance its desirability as an investment destination.
To position Nigeria as a global leader in research and innovation, Nnaji called for strong partnerships with international organizations and collaboration with esteemed research institutions. He acknowledged the importance of showcasing Nigeria’s successes on the world stage as a means of attracting investments and developing solutions to both local and global challenges. He reiterated the government’s commitment to utilizing science, technology, and innovation to achieve key goals such as economic diversification, industrialization, and digital transformation within the framework of the Renewed Hope Agenda spearheaded by President Bola Tinubu. This approach aims to boost the nation’s export capacity and foster shared economic prosperity while aligning efforts with UNESCO’s Open Science Recommendations to incorporate innovation into the Sustainable Development Goals (SDGs) by 2030.
Anna Evi-Parker, Chairperson of NIIRIC, articulated the organization’s mission to ensure sustainable impact in Nigeria by creating connections between researchers and industry leaders. She highlighted the core belief that collaboration can build an ecosystem capable of delivering measurable, sustainable outcomes. Evi-Parker viewed the annual convening as more than just a discussion platform; she challenged participants to collaborate on practical solutions to achieve NIIRIC’s vision of becoming the leading platform for impactful research and industry engagement in Nigeria. Her remarks underscored the commitment to bridging the gap between academic research and industry application.
Professor Chris Ogbechie, Dean of the Lagos Business School, reinforced the notion that impact investing extends beyond a mere financial strategy. He described it as a transformative approach that plays a significant role in achieving sustainable development and aligning with the United Nations Sustainable Development Goals (SDGs). Ogbechie expressed the school’s enthusiasm for being part of NIIRIC, emphasizing the importance of adopting research solutions to scale impact investment effectively. He called for partnerships focused on producing clear and measurable results that contribute to advancing the African agenda, specifically aspirations outlined in Agenda 2063.
The discussions at the convening touched on the necessity of fostering collaboration across various sectors, including academia, industry, and government, to amplify the impact of research initiatives. Participants acknowledged that a strategic approach to integrating research into pragmatic business models is essential for scaling impact investing in Nigeria. Moreover, the event served as an opportunity to align individual and collective efforts toward the common goal of leveraging research for sustainable development. The gathering facilitated the exploration of innovative approaches and potential partnerships to address the pressing challenges faced by Nigeria and the African continent.
As Nigeria charts its path towards an impactful research ecosystem, the collaborative efforts highlighted during the convening offer promising avenues for creating lasting change. By combining strategic policy interventions with industry engagement, Nigeria can harness its research potential to meet both local and global needs. Nnaji’s vision, coupled with the commitment from NIIRIC and other stakeholders, indicates a concerted effort to position Nigeria as a pivotal player in the global landscape of impact investing. This approach not only aims to attract investment into the country but also seeks to foster a future where innovative solutions drive sustainable growth and prosperity for all Nigerians.
