Developing Nigeria through research

Research is at the heart of fostering innovation and driving economic growth in any society. In a recent interview with Dr. Taiyo Otubanjo, Research Director, and Dr. Olayinka David-West, Academic Director, both from the Lagos Business School, the focus was on the pivotal role of research in developing Nigeria. The discussion centered around how research can lead to new inventions, enhance productivity, and ultimately improve the quality of life for individuals. The experts emphasized that research must be integrated across the entire value chain to address the evolving challenges faced by Nigeria. From changing demographics to technological advancements, research plays a crucial role in understanding and addressing these complexities. Moreover, research is essential for driving innovation and creating unique solutions in the country. Dr. Otubanjo highlighted how research is intrinsic to scientific inquiry and continuous improvement. He emphasized the need for Nigeria to focus on tailored solutions that cater to the specific needs and demands of its population. Drawing parallels to global success stories like the Silicon Valley, Dr. David-West underscored the importance of investing in research, particularly at the tertiary level, to drive innovation and economic progress. She stressed that universities need to prioritize research to stay competitive and generate impactful outcomes. The conversation further delved into the realm of Information Technology (IT) and its potential to revolutionize Nigeria's economic landscape. Dr. Otubanjo outlined the importance of commercializing research outcomes to achieve sustainable growth. While acknowledging the success of tech giants like Facebook and Google, he highlighted the need for Nigeria to develop its unique solutions that cater to local challenges. The experts emphasized the role of technology entrepreneurship in translating research findings into tangible products and services. At the Lagos Business School, a strong focus is placed on practitioner-oriented research that addresses real-world business challenges. Dr. Otubanjo and Dr. David-West shared insights into their work with a focus on management, policy, and governance. They reiterated the significance of faculty members in driving research outcomes and fostering a culture of innovation within universities. The experts also stressed the need for robust government policies that incentivize high-quality research and ensure impactful outcomes. The interview concluded with a discussion on the importance of grants and the need for accountability in research funding. Dr. Otubanjo and Dr. David-West emphasized that grants should be treated as seed funding to facilitate meaningful research that leads to practical solutions and innovations. They called for a shift in government policies to tie grants to research outcomes and incentivize impactful work. Ultimately, the experts highlighted the critical link between research, innovation, and economic development, signaling a pathway for Nigeria to unlock its full potential through research-driven initiatives.