The Tertiary Education Trust Fund (TETFund) has said that it is vigorously focused on supporting relevant research and development in tertiary institutions to fast-tracked industrial growth towards enhancing productivity and human empowerment.
Speaking while playing host to the Chief Economic Adviser to the President, Dr Doyin Salami, who paid him a courtesy visit in his office in Abuja, the Executive Secretary of the Fund, Professor Elias Suleiman Bogoro, expressed belief in the capacity of institutions to drive innovative and competitive requirements that will propel the economy.
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According to the TETFund boss, the world was fast driven by knowledge contents to revolutionise key areas for sustained economic prosperity.
He said that Nigeria must not be an exception on that path of positive economic transition that would encourage Research and Development in its university system.
Bogoro further explained that TETFund would not compromise its objects of a support organ for advancing beneficial course that will promote excellence in tertiary institutions.
He stressed the importance of the visit adding that the most successful countries today have abandoned resource-based economy and adopted knowledge-based economy, hence, Nigeria cannot be an exception.
“When a Chief Economic Adviser to the President visits any organisation at a time like this, especially a body committed to tertiary educational institutions in the coountry, what is clear is underlining the relevance of education sector to the economy.
“This could not be otherwise in the 21st century when knowledge economy perfected by research and innovation, creativity and deepening of research specifically is the main thing’’, he said.
Meanwhile, Dr. Salami in his response commended TETFund for making efforts to shift from infrastructural aspect to a content-based approach, saying it has become imperative to enable Nigeria solve some of the national problems.
He urged that focus should be laid on innovation and entrepreneurship as they are vital to the development of a nation.
“As a nation if we are going to develop to the benefits of our people, it is not about GDP growth, it is about Economic development that is beneficial to all Nigerians.
“Also, the second thing is the importance of entrepreneurship. Whether we like it or not, there is a limit to what government can do and so to that extent the importance of entrepreneurship cannot be overemphasized’’, Salami added.
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