The Board of Trustees of the Tertiary Education Trust Fund said it has approved an increase of the national research fund from N7.5 billion to N8.5 billion in 2021 budget.
The organisation also disclosed that a total of N5 billion will be captured for the special interventions of the University of Lagos.
The Chairman, TETFund Board of Trustees, Alhaji Kashim Imam, announced these in Abuja on Thursday during a two-day capacity-building workshop for heads of beneficiary institutions and staff of TETFund centres of excellence.
He said the intervention for UNILAG which was on the orders of the President, Major General Muhammadu Buhari (retd.), was also carried out in the University of Abuja in 2020.
He noted that the importance of research was essential for national development, stating that no nation can develop without research.
Speaking on the academic development programme of the fund, Imam noted that if infrastructure is funded without research and scholarships, the institutions would only be half-fulfilled.
He also announced that TETFund would add another 12 centres of excellence next year and allocate N1billion to each.
“Six state Universities and six polytechnics will be added to the centres of excellence next year, and 70 per cent of the funds will be for research funding,” he said.
The Executive Secretary of TETFund, Prof. Suleiman Bogoro, in his remark said, “Within the five-year gestation period of the TCOE Project, we await success stories and manifest achievements that will stretch the limits of our expectations.
“The R&D and innovation flame has been ignited in Nigeria, thanks to our modest efforts, but the future of this initiative and the possibility of the R&D flame developing into a raging inferno that transforms the research landscape in Nigeria rests squarely on your shoulders”, he stated.