Bill On Establishment Of Research Trust Fund Passes Second Reading In Lagos Assembly

The Lagos State House of Assembly has taken a significant step towards establishing a dedicated Research Trust Fund, as the proposed bill scaled second reading and was committed to a seven-member ad hoc committee for further scrutiny.

The prime sponsor of the bill, Hon. Gbolahan Yishawu underscored the necessity of a structured and sustainable R&D funding system to drive innovation, economic growth, and technological advancement in Lagos.

“Lagos, as Nigeria’s economic hub, cannot afford to lag in scientific and technological development. A well-structured R&D funding system will enhance governance, stimulate industrialization, and position the state as a leader in innovation,” Yishawu said.

He highlighted key areas where research funding could make a transformative impact, including healthcare, agriculture, security, and smart city development.

Key Benefits of the Lagos State Research Trust Fund
He explained that the fund would foster economic diversification by supporting startups, universities, and research institutions to develop new products and services, creating thousands of high-value jobs.

Healthcare & Medical Research: The fund will help local scientists and doctors conduct critical research, develop affordable medicines, and strengthen disease surveillance.
Agriculture & Food Security: Research in agritech and precision farming will improve food production, reduce reliance on imports, and support local farmers.
Smart City & Infrastructure Innovation: Investment in research will facilitate the development of intelligent traffic management, renewable energy, and eco-friendly urban infrastructure.
Security & Technological Advancement: Enhanced R&D will support innovations in AI-driven surveillance, biometric identification, and cybersecurity frameworks to improve public safety.
Yishawu urged lawmakers to support the bill, stressing that innovation is a necessity, not a luxury.

“If Lagos is to maintain its status as a centre of excellence, we must create a dedicated R&D funding system. This House must take decisive action to ensure that Lagos remains a leader in science, technology, and industry,” he declared.

The House is expected to receive the ad hoc committee’s report in the coming weeks before making a final decision on the bill.

Reacting, Speaker, Rt. Hon. Mojisola Meranda, referred the private member bill—sponsored by Hon. Gbolahan Yishawu—to the committee to refine its provisions.

During deliberations, Hon. Ajani Owolabi (Lagos Mainland 1) emphasized the need for state universities to be actively involved in research and have direct access to funding. Similarly, Hon. Aro Moshood (Ikorodu 2) proposed that the private sector should be incentivized to sponsor research as part of their Corporate Social Responsibility (CSR).

Meanwhile, Hon. Abiodun Tobun warned against excessive taxation hindering research efforts and advocated for tax exemptions for researchers and research institutions.