• Says institutions must turn innovations into revenue streams
•Insists human capital, not natural resources, drives modern development
Sunday Aborisade in Abuja
Deputy President of the Senate, Senator Jibrin Barau, on Wednesday challenged Nigerian universities and other tertiary institutions to commercialise research findings and innovations as a strategy for boosting internally generated revenue and reducing dependence on government funding.
Barau said higher institutions in the country must emulate leading global universities that converted research outcomes into commercially viable products and services, thereby creating wealth, supporting innovation, and contributing significantly to national development.
He spoke in Abuja while receiving the management of North West University, Kano, led by its Vice-Chancellor, Professor Amina Bayero.
According to a statement issued by his Special Adviser on Media and Publicity, Ismail Mudashir, Barau urged university administrators to place greater emphasis on research, innovation, and industry partnerships capable of generating sustainable income for their institutions.
He said, “Do not leave innovations in laboratories or bookshelves. Patent them and create value from them.
“Top global institutions, like Harvard, MIT, and Cornell, leverage research, collaborate with industries, and generate revenue through innovation.
“I encourage you to adopt this model.”
The deputy senate president, who chaired Senate Committee on Tertiary Institutions and TETFund during the Eighth Senate, stressed that the development and sustainability of universities required collective support from stakeholders beyond government.
He stated, “Maintaining and developing a university is not something that can be assured by just a single entity or person. It needs the assistance, intervention and cooperation of all.”
Barau also underscored the importance of education and human capital development in driving economic growth, stating that nations now compete more on the strength of their skilled workforce than on natural resource endowments.
He stated, “Human capital is the key driver of development globally. It is no longer about resources like petroleum or solid minerals. The number one factor of production in any nation is human capital.”
Commending the university’s growth trajectory since its establishment in 2012, Barau praised the leadership of the vice-chancellor and announced the donation of a Coaster bus to support the institution’s operations.
Earlier, Bayero said the visit was aimed at exploring areas of collaboration between the university and the office of the Deputy President of the Senate.
She lauded Barau’s contributions to education through scholarship programmes, grants, and infrastructure support to tertiary institutions across the country.
The vice-chancellor disclosed that the university, which commenced operations with a single faculty, had expanded to 10 faculties, with a student population of about 30,000.