Mr Echono noted that the exhibition is aimed at showcasing research outcomes from Nigeria's tertiary institutions and linking them to industry for commercialisation.
The Tertiary Education Trust Fund (TETFund) on Monday kicked off its inaugural National Research Fair in Abuja, a platform designed to bridge the gap between academic research, innovation, and practical application for national development.
The Minister of Education, Olatunji Alausa, while declaring the event open, expressed the government's commitment to leveraging research and innovation as tools for economic growth.
He noted the critical role of research in transforming Nigeria into a knowledge-based economy and aligning education with the country's development needs.
"Despite being the first of its kind, this event will now be an annual occurrence. We need to unleash the innate capacities of millions of young Nigerians by giving them opportunities to contribute to economic development through innovation," Mr Alausa said.
He further emphasised the government's plan to integrate research outcomes into policy formulation, focusing on creating jobs, generating wealth, and strengthening the economy.
The minister also urged financial institutions and international partners to support Nigerian youths in establishing small and medium enterprises (SMEs) using emerging technologies.
Advancing research, innovation
The Executive Secretary of TETFund, Sonny Echono, in his welcome address, provided insight into the Fund's objectives for the Fair.
He said the exhibition is aimed at showcasing research outcomes from Nigeria's tertiary institutions and linking them to industry for commercialisation.
"This maiden fair is part of TETFund's efforts to ensure that research outputs address societal problems and improve the standard of living for Nigerians. Prototypes from various research and development initiatives are being exhibited, highlighting innovations that can create jobs and wealth while revamping the economy," he said.
Mr Echono also highlighted initiatives such as the National Research Fund, the Research for Impact Programme, and the Innovation Fellowship for aspiring inventors and researchers as key programmes supported by TETFund.
He noted that these efforts have enhanced the global recognition of Nigerian academic research.
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Also speaking, the Chairman of the TETFund Board of Trustees, Aminu Masari, reaffirmed the Fund's commitment to driving innovation and improving the global competitiveness of tertiary institutions.
He said: "This fair is not just an ordinary expo. It brings together researchers, financial institutions, and industry stakeholders to explore viable research products for adoption and commercialisation."
He noted that TETFund has invested in research and development, funding over 23,000 institutional-based research projects and 912 grants under the National Research Fund.
He also stressed the importance of integrating research outputs into industries to foster entrepreneurship and shift Nigeria from a consumer-driven to a production-oriented economy.
"To realise this goal, research outputs from our institution need to be integrated into the industrial sector and the society in many ways to create clean-offs, farms, capital formation ventures, and business incubator facilities," he said.
