The Executive Secretary of the Tertiary Education Trust Fund (TETFUND), Engr. Sunny Echono, has expressed delight in the signing of a Memorandum of Understanding (MoU) between TETFUND and the National Association of Chamber of Commerce, Industry, Mines, and Agriculture (NACCIMA).
The MoU, signed at the TETFUND headquarters in Abuja, aims to promote research and innovation, commercialize research outcomes, and develop skills that meet industry needs.
Echono stated that the partnership is a significant milestone in the collaboration between TETFUND and NACCIMA, which has been ongoing for a while.
According to Echono, the objectives of the MoU include: Promoting research and innovation that addresses industrial and societal needs, commercializing research outcomes for the benefit of Nigerian industries and the national economy.
It’s also aims to building capacity and skills development for youths and professionals, encouraging investment and joint ventures between academia and industry.
Supporting policy advocacy and knowledge sharing for sustainable development, and promoting job creation, startup growth, and inclusive innovation through research and development
“Promoting skills development. Enterprise growth industrialization and job creation. It aligns with government’s priorities and contributes directly to Nigeria’s economic diversification”.
Echono emphasized that the partnership is in line with the current administration’s desire to create an economy driven by the skills and enterprise of Nigerian youth.
Particularly with focus on research and Innovation as well as producing graduates that will be fit for purpose, ready for industry. So, this is in line with our service model and for a while, but more importantly, it is at the heart of Mr. President’s desire for us to create an economy that is dependent on the skills. The skill set the industry, the Enterprise of our youth, and that we should be able to handle this.
“The enormous resources, the almighty has endowed this country both in human and material things. To push Nigeria of the larder of development”.
“And that is why there is this concerted evidence in various sectors between and that can objectively Today’s MOU Is the work of a very hardworking group, who had a joint team. Steering committee, which is from both sides, that worked very hard day and night to come forward come up with this mou. But the for purpose of the media, the objectives of the mou include promotional research and Innovation that address both industrial and societal needs”.
He noted that the country has enormous resources, both human and material, that can be harnessed to push Nigeria out of its current development challenges.
The Executive Secretary expressed confidence that the partnership would stimulate economic growth, create jobs, and improve the quality of education in Nigeria.
He also commended the hard work of the joint team that worked tirelessly to finalize the MoU.
The signing of the MoU is expected to have a positive impact on the economy, as it will provide opportunities for research and innovation, skills development, and job creation. TETFUND is committed to this collaboration and looks forward to taking it to the next level.
Earlier speaking, the National President of NACCIMA, Engr. Jani Ibrahim, highlighted the significance of the MoU signed between TETFUND and NACCIMA, emphasizing that Nigeria’s development must be driven by knowledge innovation.
Ibrahim stated that the partnership is crucial for building a competitive, innovation-driven, and globally relevant economy.
He noted that industries need graduates equipped with practical skills to solve real-world problems, while research institutions require clear pathways to commercialize knowledge and contribute to national productivity.
The NACCIMA president outlined the benefits of the partnership, including:
Unlocking structured access to the private sector, enabling industry-informed research and stronger linkages for internships and industrial attachments, providing opportunities for innovation emerging from tertiary institutions as well as shaping the skills pipeline and guiding research priorities towards industry needs.
Its also includes enhancing workforce competence, activity competitiveness, and investment, and contributing to national economic diversification and job creation.
Ibrahim commended the executive secretary of TETFUND, Engr. Sunny Echono, and his team for their vision and commitment to collaboration. He expressed confidence that the partnership would drive Nigeria towards an integrated, innovation-driven economy.
The NACCIMA president also highlighted the organization’s efforts to achieve a $1 billion economy by 2030 and promote export-oriented industries. He emphasized the importance of internationalizing Nigerian businesses and attracting investors.
Ibrahim concluded by stating that the MoU is just the beginning of a long and purposeful journey, and he looked forward to building a stronger education-industry nexus, enhancing national competitiveness, and unlocking opportunities for young people and the nation.
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