Date: Sunday 26th September 2021

Knowledge-based economy . . TETFund boss canvasses

Knowledge-based economy . . TETFund boss 

canvasses multi-billion dollar National Research Fund


Prof. Suleiman Bogoro, Executive Secretary, Tertiary Education Trust Fund (TETfund), on Saturday urged stakeholders to galvanise support towards building a knowledge-based economy for the country. To support that, TETFund has thus canvassed set up of a National Research Development Foundation, with proposed seed money of over two billion dollars.

He, said it was necessary for educationists especially, among other stakeholders, to engage in problem-solving research and build a knowledge-based economy to ensure global competitiveness.

News Agency of Nigeria (NAN) reports quoted that the Fund Executive Secretary’s presentation tagged: “Forging Partnerships in the Triple Helix Model and the Drive for the Institutionalisation of Nigeria’s Knowledge Economy”, was made at the 9th Convocation Ceremony of VERITAS University in Abuja.

According to Prof. Bogoro the country’s economy should be able to translate into solving the problems of its citizens.

He lamented that since the country’s independence, Nigerian Universities had emphasised teaching at the expense of research. Most of the researches carried out in universities were for the purpose of acquiring degrees and not solving the nation’s socio-economic problems.

Said he: Nigeria in spite of its place as Africa’s leading economy with a Gross Domestic Product (GDP) projected to grow between 1.7 per cent and 2.0 per cent in 2021, must solve the problems of its citizens to make the GDP more meaningful.

 “Today’s investment in Research and Development is tomorrow’s sustainable revenue for any investing nation.

” We cannot afford to waste more time for reinventing the wheels when we can leverage on innovations across the globe to fast-track development.

“The obvious reality is that nations across the world are closing borders due to the COVID-19 pandemic, with underling economic reasons.

” We must fix Nigeria by adding value to our natural resources for global competitiveness and a sustainable knowledge economy,” he said.

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