The Lagos State Science Research and Innovation Council (LASRIC) has received a grant of N1 billion as seed fund from the Lagos State government. The announcement was made by the Deputy Governor, Dr. Kadri Obafemi Hamzat on behalf of Governor Babajide Sanwo-Olu during the inauguration of the newly reconstituted LASRIC members in Lagos.
Governor Sanwo-Olu stated that his administration is committed to increasing the success metrics with the provision of the LASRIC Seed fund. He added that “with the provision of LASRIC Seed fund to the tune of N1,000,000,000 (One Billion Naira) in the first tranche payment to the council. We believe this fund would continue to catalyze development in our dear State”.
The Governor emphasized that the central focus of the current administration’s THEMES Plus Agenda is the sustainable development of the State. He highlighted the necessity of establishing an Innovation, Science, and Technology body to drive deeper positive economic outcomes and manage Lagos State’s engagement with the science and technology ecosystem.
He pointed out that LASRIC has supported over 70 initiatives in research and development, covering areas from biomass and biodiesel to artificial intelligence for medical imaging. These efforts have increased innovation activity within the state by more than 250%.
The Governor outlined the key responsibilities for the newly recommissioned LASRIC board headed by Professor Olumuyiwa Odusanya, which include: Increased Funding and Support, Collaboration and Partnerships, Capacity Building, Focus on Local Challenges, Promotion of a Culture of Innovation, and the LASRIC SEED FUND. He noted that these areas will enhance the state’s science, innovation, and technology ecosystem. Sanwo-Olu also mentioned that the board comprises experts from industry, academia, and the public sector, with a mission to deepen and expand innovation activities in Lagos.
