The Tertiary Education Trust Fund (TETFund) and the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) have signed a landmark Memorandum of Understanding (MoU) designed to strengthen research, innovation, and the production of industry-ready graduates in Nigeria.
At the signing ceremony in Abuja on Wednesday, TETFund Executive Secretary, Arch. Sonny Echono, expressed appreciation for the partnership, noting that it aligns with the federal government’s vision for a skills-driven, innovation-led economy.
He said: “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 NACCIMA.
“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.”
The MoU outlines a range of strategic objectives, including promoting research and innovation that address industrial and societal needs, facilitating the commercialisation of research outcomes, strengthening skills development and entrepreneurship, encouraging joint ventures between academia and industry, supporting policy advocacy, and advancing job creation and startup growth.
Echono stressed the transformative potential of the partnership, saying that “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.”
NACCIMA’s National President, Engr. Jani Ibrahim, underscored the importance of closer collaboration between industry and academia.
He noted that the partnership offers mutual benefits, including structured private-sector access, industry-informed research, internship and industrial attachment opportunities, and enhanced commercialisation of innovation.
“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 added that the collaboration aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which has strengthened TETFund through improved funding efficiency, upgraded research infrastructure, and a focus on skills-driven, technology-based learning.
“This partnership reinforces the federal government’s commitment to an education sector that is innovative, industry-aligned, and globally competitive.”
He further described the MoU as the beginning of a long-term journey aimed at deepening the education-industry nexus, boosting national competitiveness, and unlocking new opportunities for young Nigerians and the business community.
