Nigeria Allocates $588.9 Million to Science, Technology, and Innovation in 2026 Budget

By Olorungbohunmi Oluwatoyin victor 

Nigeria has allocated N838.67 billion ($588.9 million) to science, technology, and innovation in its 2026 Appropriation Bill, demonstrating a strong commitment to research and technological development as key drivers of economic diversification and industrial growth. The Ministry of Innovation, Science, and Technology will receive the majority of the funding, with N745.26 billion designated for capital projects, N85.08 billion for personnel costs, and N8.34 billion for overhead expenses.

The significant allocation towards capital projects reflects the government's focus on building research infrastructure, supporting technology development, and advancing innovation-driven initiatives. Personnel costs will cover salaries for scientists, engineers, researchers, and administrative staff, while overhead funds will be used for day-to-day operations, logistics, and administrative needs. Observers note that the budget structure indicates a shift towards long-term, impactful programs rather than routine expenditures.

For ordinary Nigerians at the grassroots level, this funding is intended to create employment opportunities and bolster local industries.

 It will specifically target technology-driven projects such as biotechnology and renewable energy, with potential improvements in healthcare, power supply, and food security. The initiative aims to foster growth in startups and youth-led ventures, ultimately leading to long-term economic diversification beyond reliance on oil revenues. The success of this initiative will hinge

 on efficient project implementation and effective fund management.