Lagos Assembly moves to establish research Trust Fund

The Lagos State House of Assembly has taken a significant step toward establishing a State Research Trust Fund, a move aimed at fostering scientific innovation, economic development, and technological advancement.

The Speaker of the House, Princess Mojisola Lasbat Meranda, on Tuesday committed the proposed bill to a sub-committee for further review and fine-tuning.

The bill, sponsored by Hon. Gbolahan Yishawu, successfully scaled a second reading on the House floor.

The proposed law seeks to create a State Research Trust Fund for the allocation, management, and administration of research funding in Lagos State.

Lawmakers supporting the bill emphasized that a dedicated research fund would strengthen tertiary institutions and research bodies, enabling them to undertake meaningful studies that benefit the state’s economy and governance.

According to Hon. Yishawu, Lagos, as Nigeria’s economic nerve center, must not fall behind in scientific and technological progress. He argued that a structured research and development (R&D) funding system would:

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 “This bill is necessary for Lagos to remain competitive. A well-funded research system will not only improve governance but also create breakthroughs in technology, medicine, and industrial development,” Yishawu stated.

While the bill received widespread support, some lawmakers raised concerns over taxation and the mechanisms for funding the trust.

Hon. Noheem Adams highlighted the importance of sustained funding, arguing that investment in research leads to transformative discoveries. Drawing historical parallels, he stated:

“When Alexander Graham Bell invented the telephone, few could have imagined a time when we would all carry mobile phones in our pockets. Research changes societies, and Lagos must embrace it.”

Despite concerns, lawmakers agreed on the bill’s significance and its potential to revolutionize various sectors, from health and education to agriculture and transportation.

With the ad-hoc committee now tasked with refining the bill, legislative processes will continue before it is presented for final passage and possible enactment into law.

If passed, the Lagos State Research Trust Fund will serve as a catalyst for homegrown innovation, empowering researchers and positioning Lagos as a hub for cutting-edge scientific and technological advancements in Nigeria.