Shettima Inaugurates Innovation Committee to Halve Nigeria’s Import Bill and Drive Trillion-Dollar Economy Vision

Vice President Kashim Shettima has inaugurated an inter-ministerial committee tasked with advancing Nigeria’s innovation agenda and significantly reducing the country’s dependence on imports. The committee was launched at the State House in Abuja as part of President Bola Tinubu’s broader vision to transform Nigeria into a trillion-dollar innovation-driven economy within the next decade.

Speaking at the inauguration, Shettima said the committee represents a strategic move to harness Nigeria’s intellectual and financial capital to “create the cockpit from which Nigeria’s innovation economy will be piloted.”

“We are here to breathe life not into this committee, but into a bold mission: to build Nigeria into an innovation-driven, trillion-dollar economy within a decade. The future we desire is not something we inherit—it is something we build,” Shettima stated.

Targeting Strategic Sectors for Transformation

The Vice President outlined the committee’s mandate, which focuses on coordinating innovation efforts across five critical sectors:

1. Agriculture and Climate Resilience – advancing research to improve food production while protecting the environment.

2. Manufacturing Excellence – promoting local supply chains to reduce reliance on imports.

3. Healthcare Innovation – transitioning from importing drugs to exporting medical breakthroughs.

4. Natural Resource Optimisation – shifting from exporting raw materials to exporting value-added products.

5. Energy Security – strengthening the energy sector to fuel national development.

A key priority, Shettima noted, is to reduce Nigeria’s food import bill by 50 percent. “We will not be content with data for dashboards—we want deliverables that change lives,” he said. “What will it take to reduce our food import bill by 50%? How do we triple local pharmaceutical production? Let us align policy, research, and investment to answer these questions.”

Laying the Groundwork for National Innovation Governance

The committee’s formation also serves as a precursor to the Presidential Plenary on Innovation, an annual high-level forum approved by President Tinubu that will bring together stakeholders from academia, research institutes, industry, civil society, and government. The plenary, to be presided over by the President, will serve as a national platform for aligning innovation priorities.

“This committee is only the beginning,” Shettima said. “The plenary will be addressed by Mr. President himself because innovation is a presidential priority.”

Emphasis on Collaboration and Efficiency

Speaking at the event, the Minister of Innovation, Science and Technology, Uche Nnaji, emphasized the importance of collaboration among ministries, departments, and agencies to avoid duplication and ensure efficient use of resources.

“The keyword here is collaboration,” Nnaji noted. “With this committee, we can harmonize efforts and save the government significant resources while accelerating research and innovation.”

Other key officials present at the inauguration included the Minister of Agriculture and Food Security, Sen. Abubakar Kyari; Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani; and representatives from the Ministries of Education, Budget and Economic Planning, and Foreign Affairs.

The newly inaugurated committee is expected to play a pivotal role in shaping Nigeria’s innovation trajectory and ensuring that strategic sectors contribute meaningfully to national development.