The Tertiary Education Trust Fund, TETFund, and the National Association of Chambers of Commerce, Industry, Mines and Agriculture, NACIMA, have signed a strategic Memorandum of Understanding, MoU, designed to strengthen research, spur innovation, and equip Nigerian graduates with industry-relevant skills.
Speaking at the signing ceremony in Abuja on Wednesday, TETFund Executive Secretary, Arc. Sonny Echono, described the partnership as a timely boost to the Federal Government’s vision of building a knowledge-driven, innovation-powered economy.
Echono noted that the collaboration reflects years of engagement between both institutions and reinforces TETFund’s commitment to deepening the “triple helix” relationship between government, academia, and industry.
“This collaboration focuses on research, innovation, and producing graduates who are truly fit for purpose and ready to contribute effectively to industry.
“It aligns with the President’s goal of harnessing Nigeria’s human and material resources for national development,” he said.
The MoU sets out key objectives, including promoting research that responds to industrial and societal needs; enabling commercialisation of research outputs; strengthening capacity building and entrepreneurship; encouraging joint ventures between academia and industry; supporting policy advocacy and knowledge exchange; and driving job creation, startup growth, and inclusive innovation.
Echono stressed that unlocking youth potential remains central to Nigeria’s economic prospects.
“If we harness the talent of our youths and equip them with critical thinking, cultural awareness, and problem-solving skills, we can advance Nigeria’s economy while addressing global skills shortages,” he said.
On his part, NACIMA’s National President, Engr. Jani Ibrahim, underscored the critical importance of aligning education with industry expectations, noting that the partnership offers significant benefits to both sectors.
According to Ibrahim, these include structured access to the private sector, industry-guided research, expanded internship and industrial attachment opportunities, and greater commercialisation of innovations emerging from tertiary institutions.
“Development must be driven by knowledge, innovation, skills, enterprise, and strong industry-education partnerships.
“This MoU bridges the gap between classroom learning and real-world needs, enabling graduates to acquire practical skills while helping research institutions convert knowledge into national productivity,” he said.
He added that the collaboration also complements President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises enhanced funding efficiency, strengthened research capacities, and a shift toward skills-driven, technology-based learning in tertiary institutions.
Describing the MoU as the beginning of a long-term, strategic journey, Ibrahim emphasised its potential to deepen the education-industry nexus, improve national competitiveness, and create new opportunities for young Nigerians and businesses across the country.
