Nigerias Tertiary Education Trust Fund, said that the private universities, polytechnics and colleges of education in the country are already accessing its N7.5 billion National Research Fund.
The fund said the fund was meant to bolster the conduct of cutting-edge researches in the nations tertiary institutions.
The Executive Secretary of TETFund, Prof. Suleiman Bogoro said this on Monday while declaring open a 4-day meeting of the TETFund Research and Development Standing Committee in Abuja.
Bogoro said the breakthrough came two years after the Board of Trustees of TETFund granted the approval for private institutions to draw from the funds.
He said since its inauguration on 24th September 2020, the committee had gone far in implementing President Muhammadu Buharis directive to support government initiatives of responding to the threat of COVID-19 through ground-breaking research on Phyto-medical drugs, prophylactics and vaccines.
He added that some of the results of the funds intervention would be announced soon.
He further said there were pieces of evidence that results of the funds research drive were already coming.
According to him, the National Agency for Science and Engineering Infrastructure and Innoson Motors, recently signed a Memorandum of Understanding on the utilisation of locally produced goods, signaling a step forward.
The TETFund boss also announced the demise of four members of the committee namely: Prof. Emmanuel Ezugwu, Prof. Femi Odekunle, Prof. Habu Galadima, and Prof. Oyewusi Ibidapo-Obe.
He disclosed that Mr. Laoye Jaiyeola of the Nigeria Economic Summit Group was brought in to replace Prof. Femi Odekunle who passed on as one of the four Vice Chairmen of the committee.
Speaking on the report of the TETFund committee, its Chairman, Prof. Gadzama Njida described the report as its most important activity.
Njida said that despite setbacks brought by the demise of their four colleagues, TETFund was able to sustain the progress of the committees work.
He, therefore, stressed the importance of an action plan after the report had been reviewed to establish the National R&D Foundation.