05/06/2026
UNILORIN SUMMIT: FUNAAB Pro-Chancellor Advocates Innovation-Driven Universities for Nigeria’s Economic Transformation
Ilorin, Nigeria – The Pro-Chancellor and Chairman of the Governing Council of the Federal University of Agriculture, Abeokuta (FUNAAB), His Royal Majesty, Oba Rasheed Ayotunde Olabomi, Odundun IV, Asoludero, the Aragbiji of Iragbiji Land, has called for a fundamental transformation of Nigeria’s higher education system, urging universities to evolve beyond certificate-awarding institutions into dynamic centres of innovation, entrepreneurship, industrialisation, and national development.
The monarch made the call while delivering the keynote address at the 2026 University of Ilorin Research and Industrial Summit (UIRIS), themed “Advancing University–Industry Collaboration for Sustainable National Development in Nigeria.”
Addressing an audience comprising academics, industry leaders, policymakers, researchers, entrepreneurs, and students, Oba Olabomi described innovation as the most effective catalyst for strengthening Small and Medium Enterprises (SMEs), which remain the backbone of Nigeria’s economy.
According to the royal father, Nigeria’s major challenge is not a lack of talent, creativity, or resources, but the persistent inability to transform research outcomes into commercially viable products, technologies, and enterprises capable of driving sustainable economic growth.
“Nigeria must stop seeing universities as factories for certificates and begin to see them as centres for problem-solving, innovation and enterprise development,” he stated.
Highlighting the strategic role of SMEs in national development, Oba Olabomi noted that the sector accounts for approximately 96 per cent of businesses in Nigeria and serves as a major source of employment. However, he observed that many SMEs continue to struggle with inadequate technological adoption, limited research support, weak innovation ecosystems, and restricted access to modern production technologies.
To address these challenges, he advocated the creation of a robust innovation ecosystem driven by strong partnerships among universities, industries, and government agencies. Such collaboration, he noted, would facilitate research commercialisation, entrepreneurship development, and industrial expansion.
Drawing lessons from successful global economies, the FUNAAB Pro-Chancellor cited the contributions of Stanford University to the emergence of Silicon Valley in the United States, the Korea Advanced Institute of Science and Technology (KAIST) to South Korea’s technological advancement, Germany’s dual education system, and India’s technology-driven SME revolution as examples of how universities can serve as engines of economic development.
He emphasised that nations such as the United States, China, Germany, South Korea, and Singapore attained global competitiveness through deliberate investments in research, innovation, and university-industry collaboration.
Oba Olabomi therefore challenged Nigerian universities to establish technology transfer offices, innovation hubs, entrepreneurship accelerators, product development centres, and research commercialisation units capable of supporting local industries and fostering startup growth.
He also called for stronger government support through increased research funding, innovation grants, startup financing, tax incentives for research-oriented industries, enhanced digital infrastructure, and stronger intellectual property protection frameworks.
Expressing concern over the poor utilisation of academic research in the country, the monarch lamented that countless valuable research findings remain confined to university shelves while industries continue to rely heavily on imported technologies and foreign expertise.
“A nation that imports everything cannot sustainably develop. Research without commercialisation remains incomplete, while knowledge without societal impact remains underutilised,” he said.
The keynote speaker further highlighted opportunities presented by the Fourth Industrial Revolution, identifying Artificial Intelligence (AI), robotics, biotechnology, renewable energy, advanced manufacturing, blockchain technology, and data analytics as critical sectors where Nigerian universities and SMEs must invest to remain globally competitive.
He stressed the need for entrepreneurship education to be fully integrated into university curricula, ensuring that graduates acquire not only academic qualifications but also the innovative and business skills required to create jobs and generate wealth.
Oba Olabomi also urged policymakers and educational institutions to align innovation strategies with sustainable development goals by promoting collaborative projects in climate-smart agriculture, renewable energy technologies, waste-to-energy solutions, sustainable manufacturing, and digital climate monitoring systems.
According to him, innovation-driven SMEs possess significant potential to tackle youth unemployment, poverty, and economic exclusion, particularly in a country where more than 70 per cent of the population is under the age of 35.
He expressed optimism about a future Nigeria where universities serve as drivers of industrial productivity, research generates globally competitive technologies, students launch successful startups, local industries depend on indigenous innovations, and youth unemployment is substantially reduced.
“The future of Nigeria cannot be built on consumption alone. It must be built on innovation, research, entrepreneurship and industrial productivity,” he declared.
Earlier in his opening remarks, the Vice-Chancellor of University of Ilorin, Prof. Wahab Olasupo Egbewole, described the summit as a strategic platform designed to bridge the longstanding gap between research outputs and industrial application in Nigeria.
He reaffirmed the institution’s commitment to promoting impactful collaborations among academia, industry, and government to ensure that research findings translate into practical solutions capable of addressing societal challenges, stimulating economic growth, and enhancing Nigeria’s global competitiveness.
The Vice-Chancellor added that the summit aligns with the university’s vision of advancing excellence in research, innovation, and community impact while creating opportunities for students, researchers, and entrepreneurs to contribute meaningfully to national development.
The four-day summit, organised by the University of Ilorin’s Centre for Laboratory to Product (LABTOP) in collaboration with the Centre for Research Development and In-House Training (CREDIT), the Technical and Entrepreneurship Centre (TEC), and FETICON 2026, featured research exhibitions, technology innovation challenges, students’ colloquia, and high-level discussions aimed at strengthening collaboration among academia, industry, and government.
Participants at the summit unanimously agreed that accelerating Nigeria’s economic transformation would require deliberate investments in research commercialisation, technology development, entrepreneurship, and stronger partnerships between universities and industry.
Keywords: FUNAAB, University of Ilorin Research and Industrial Summit, UIRIS 2026, Oba Rasheed Ayotunde Olabomi, University-Industry Collaboration, Research Commercialisation, Innovation Ecosystem, SMEs in Nigeria, Entrepreneurship Development, Higher Education Reform, Sustainable National Development, Technology Transfer, Industrialisation, Artificial Intelligence, Fourth Industrial Revolution.
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