The Tertiary Education Trust Fund (TETFUND) and the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACIMA) have signed a Memorandum of Understanding (MOU) aimed at fostering research, innovation, and industry-ready graduates.
The Executive Secretary of TETFUND, Sonny Echono, expressed appreciation for the partnership at the signing of the MOU in Abuja on Wednesday.
He acknowledged that the collaboration aligned with the federal government’s vision of creating an economy driven by the skills, enterprise, and innovation of Nigerian youths.
“We welcome you to your fund, as well as all the excellent initiatives that have brought us together. Today’s signing is the culmination of long-standing efforts between TETFUND and NACIMA. This collaboration focuses on research, innovation, and producing graduates fit for purpose, ready to contribute effectively to industry. It is central to the triple helix model we have championed and supports the President’s goal of harnessing Nigeria’s human and material resources for national development,” he said.
The MOU outlined several key objectives, including promoting research and innovation that addressed industrial and societal needs; facilitating the commercialisation of research outcomes; strengthening capacity building, skills development, and entrepreneurship initiatives; encouraging investment and joint ventures between academia and industry; supporting policy advocacy and knowledge sharing; and promoting job creation, startup growth, and inclusive innovation.
Echono further emphasised the potential of the partnership to stimulate economic growth.
“If we harness the talent of our youths and equip them with critical thinking, cultural awareness, and problem-solving skills, we can not only advance Nigeria’s economy but also address global skills gaps,” he added.
The National President of NACIMA, Jani Ibrahim, highlighted the critical role of industry-education collaboration.
He outlined the mutual benefits for NACIMA and TETFUND, including structured access to the private sector, industry-informed research, internship and industrial attachment opportunities, and enhanced commercialisation of innovations.
“Development must be driven by knowledge, innovation, skills, enterprise, and strong industry-education partnerships. This MOU provides a bridge for graduates to gain practical skills and for research institutions to commercialise knowledge and contribute to national productivity. For the business community, this partnership will guide research priorities towards industry needs, build a more competent workforce, and ultimately enhance productivity, competitiveness, and investment,” he said.
Ibrahim also noted that the collaboration aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which strengthened TETFUND through improved funding efficiency, upgraded research infrastructure, and a focus on skills-driven and technology-based learning.
“This partnership reinforces the federal government’s commitment to an education sector that is innovative, industry-aligned, and globally competitive,” he added.
He described the MOU not as an end but as the beginning of a strategic journey to build a stronger education-industry nexus, enhance national competitiveness, and unlock opportunities for young Nigerians and businesses alike.