Stakeholders, including government officials and experts, have outlined an ambitious vision for Nigeria's economic future, aiming to achieve N10 trillion in revenue from knowledge assets. The discussions took place at a summit organized by Research for Impact, Knowledge-Economy, and Sustainable Development (RIKE-SD), and hosted by the West and Central Africa Research and Education Network (WACREN) in Abuja. The summit, held on Thursday, underscored the pivotal role of research, development, and innovation in driving economic growth and prosperity.

Abike Dabiri, Chairperson of the Nigeria in Diaspora Commission (NIDCOM), emphasized the importance of leveraging Nigeria's intellectual capital. She stressed the necessity of data, research, and development for growth, echoing the sentiments of President Muhammadu Buhari, who has emphasized the significance of research, development, and innovation. Dabiri highlighted the wealth of talent and resources within Nigeria and expressed the intention to collaborate with the diaspora community to harness these assets.

Similarly, Prof. Elias Bogoro, former Executive Secretary of the Tertiary Education Trust Fund (TETFUND), emphasized the centrality of research in a knowledge economy. He pointed out Nigeria's robust government support for fostering research and innovation, facilitated through the Ministry of Science, Technology, and Innovation, as well as the Ministry of Budget and National Planning.

Former Director General of the Defence Research and Development Bureau, Air Vice Marshal (AVM) Jomo Osahor (retd), underscored the importance of creativity and independence in research. He emphasized that research and development are crucial for national growth, requiring creativity and innovation, rather than reliance solely on foreign ideas.

Mustapha Popoola, Executive Director of RIKE-SD, emphasized the significance of institutionalizing research, development, and innovation across sectors. He outlined plans to launch a coordination platform for Research, Development, and Innovation in Nigeria, aligning with President Buhari's emphasis on institutionalizing these processes. Popoola highlighted the goal of utilizing the development innovation toolkit to analyze presidential priority areas and drive additional revenue generation through knowledge assets, research outcomes, innovation, and foreign direct investment.

The summit, supported by the Foreign Commonwealth Development Office (FCDO), UK, aimed to strategize on leveraging Nigeria's intellectual capital for economic growth.

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