Lagos Moves to Back Innovation with New Bill

Lagos is setting its sights on becoming a hub for science and technology through a new bill that would commit steady funding to innovation.

The draft law, called the Lagos State Innovation Bill, proposes the creation of a Research and Development Innovation Fund (RD&I Fund). The fund would receive at least 1.5% of the state’s capital budget every year, with the figure rising to 2% after a decade.

Officials say the fund will also benefit from donations, innovation bonds, grants, and income generated from partnerships and royalties.

Lagos: Building a Future for Innovators

The RD&I Fund is expected to help transform research into practical solutions while encouraging collaborations between universities and industries. It will also provide seed capital for startups with fresh ideas.

According to the bill, investments will go into modern facilities, innovation hubs, incubators, and technology parks. “Repatriated Tech Talents” returning to Lagos would get access to startup funding, labs, and integration support. Scholarships and innovation bootcamps are also part of the plan to nurture future creators.

Management of the fund will be placed in the hands of a Fund Manager appointed by the Lagos State Research and Innovation Commission. The commission will also issue eligibility rules for startups and businesses seeking access to the money.

If passed, the bill could give Lagos a stronger position in Nigeria’s growing innovation economy. With stable funding, officials believe the state can attract top talent, support local startups, and compete with global innovation hubs.