TETFund/NACCIMA Partners to Promote Research and Innovation

The Tertiary education Trust Fund (TETFund) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) have signed a Memorandum of Understanding (MOU) aimed at strengthening research and innovation that can have a direct, positive impact on the economy. Executive Secretary of TETFund, Arc. Sonny S. T. Echono, expressed appreciation for the partnership, noting that the collaboration aligns with government’s desire of creating an economy that is dependent on skills and enterprise of the Nigerian youths. “This collaboration focuses on research, innovation, and production of graduates fit for purpose, ready to contribute effectively to industry. It is central to the triple helix model we have championed and supports the President’s goal of harnessing Nigeria’s human and material resources for national development,” he said. Echono re-emphasized the MOU several objectives to include, promoting research and innovation that address industrial and societal needs; facilitate the commercialization of research outcomes for the benefit Nigeria; strengthen capacity-building, skills development, and entrepreneurship initiatives for youth, academia, and professionals. Others are to encourage investment and joint ventures between academia and industry; support policy advocacy and knowledge sharing for sustainable development; promote job creation, startup growth, and inclusive innovation through research and development. “The partnership represents a significant milestone in our collaborative efforts to promote research and innovation, fast-track the commercialization of research outputs, skills and entrepreneurship development. We are confident that we have enough men and women, scholars, students and our academia that do the incubation hubs for all the ideas and solutions that our industries require in terms of new product development, improvement of system process, products and services to the Nation.” And TETFund is committed to this collaboration in order to create a positive impact on our society,” Echono stated. In his remarks, National President of NACCIMA, Engr. Jani Ibrahim, stated that the MOU represents a strategic partnership anchored on a shared belief that Nigeria’s development must be driven by knowledge, innovation, skills, enterprise, and strong industry-academia collaboration. Ibrahim emphasized that the private sector and the academia must work together in other to build a competitive, innovation-driven and global relevant economy. He added that the MOU provides a bridge for graduates to acquire practical skills to be able to solve real-world problems and for research institutions to commercialize knowledge, develop technologies, and contribute to national productivity. “For NACCIMA and the business community, the partnership will guide research priorities toward industry needs and build a more competent workforce that enhance productivity, competitiveness, and investment growth. I would also like to state that NACCIMA is at the fore-front of leading the charge for the achievement of one trillion-dollar economy by 2030. We have also put in place so many structures to see to the achievement," he said Ibrahim noted that the collaboration aligns with the education reforms of president Bola Ahmed Tinubu’s renewed Hope Agenda which strengthens TETFund through improved funding efficiency, upgraded research infrastructure, and a renewed focus on skills-driven and technology-based learning. He added that the MOU reinforces the federal government’s commitment to an education sector that is innovative, industry-aligned, and globally competitive. He noted that the MOU is the beginning of a long and purposeful journey to build a stronger link between education and industry, enhance national competitiveness, and unlock new opportunities for young Nigerians and businesses. He added that NACCIMA is committed to ensuring that the objectives of the MOU translate into concrete programmes, measurable outcomes, and sustainable impact.

The Tertiary education Trust Fund (TETFund) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) have signed a Memorandum of Understanding (MOU) aimed at strengthening research and innovation that can have a direct, positive impact on the economy. Executive Secretary of TETFund, Arc. Sonny S. T. Echono, expressed appreciation for the partnership, noting that the collaboration aligns with government’s desire of creating an economy that is dependent on skills and enterprise of the Nigerian youths. “This collaboration focuses on research, innovation, and production of graduates fit for purpose, ready to contribute effectively to industry. It is central to the triple helix model we have championed and supports the President’s goal of harnessing Nigeria’s human and material resources for national development,” he said. Echono re-emphasized the MOU several objectives to include, promoting research and innovation that address industrial and societal needs; facilitate the commercialization of research outcomes for the benefit Nigeria; strengthen capacity-building, skills development, and entrepreneurship initiatives for youth, academia, and professionals. Others are to encourage investment and joint ventures between academia and industry; support policy advocacy and knowledge sharing for sustainable development; promote job creation, startup growth, and inclusive innovation through research and development. “The partnership represents a significant milestone in our collaborative efforts to promote research and innovation, fast-track the commercialization of research outputs, skills and entrepreneurship development. We are confident that we have enough men and women, scholars, students and our academia that do the incubation hubs for all the ideas and solutions that our industries require in terms of new product development, improvement of system process, products and services to the Nation.” And TETFund is committed to this collaboration in order to create a positive impact on our society,” Echono stated. In his remarks, National President of NACCIMA, Engr. Jani Ibrahim, stated that the MOU represents a strategic partnership anchored on a shared belief that Nigeria’s development must be driven by knowledge, innovation, skills, enterprise, and strong industry-academia collaboration. Ibrahim emphasized that the private sector and the academia must work together in other to build a competitive, innovation-driven and global relevant economy. He added that the MOU provides a bridge for graduates to acquire practical skills to be able to solve real-world problems and for research institutions to commercialize knowledge, develop technologies, and contribute to national productivity. “For NACCIMA and the business community, the partnership will guide research priorities toward industry needs and build a more competent workforce that enhance productivity, competitiveness, and investment growth. I would also like to state that NACCIMA is at the fore-front of leading the charge for the achievement of one trillion-dollar economy by 2030. We have also put in place so many structures to see to the achievement," he said Ibrahim noted that the collaboration aligns with the education reforms of president Bola Ahmed Tinubu’s renewed Hope Agenda which strengthens TETFund through improved funding efficiency, upgraded research infrastructure, and a renewed focus on skills-driven and technology-based learning. He added that the MOU reinforces the federal government’s commitment to an education sector that is innovative, industry-aligned, and globally competitive. He noted that the MOU is the beginning of a long and purposeful journey to build a stronger link between education and industry, enhance national competitiveness, and unlock new opportunities for young Nigerians and businesses. He added that NACCIMA is committed to ensuring that the objectives of the MOU translate into concrete programmes, measurable outcomes, and sustainable impact.