The Retail Development and Investment Company Africa (RDIC Africa) has launched the INARIC National Academic Research Impact Challenge, offering a total prize pool of N25m to students across Nigerian higher institutions whose research papers provide practical solutions to national challenges. Chief Executive Officer of RDIC Africa, Ejimofor Akah, announced the opening of the submission portal at an event held in Lagos, noting that owners of the top 10 research papers will be rewarded.

Akah explained that the competition targets research papers offering implementable solutions in areas such as healthcare, agriculture, energy, financial inclusion, technology, SME expansion, and the economy. He disclosed that the INARIC submission portal will remain open until September, while the top 10 entries will be awarded at a ceremony scheduled for December in Abuja.

"INARIC is a nationwide annual initiative designed to unlock the immense intellectual potential that resides within Nigeria's Tertiary Education system and to convert that potential into measurable, real world economic and social impact," he stated.

He noted that Nigeria's Universities, Polytechnics, and Colleges of Education collectively produce tens of thousands of research papers annually, but the overwhelming majority never leave the institution, reach industry or policymakers, or attract investment and recognition. Akah described this disconnect between academic research and real world challenges as one of the most persistent structural failures in Nigerian higher education, adding that INARIC was specifically designed to close this gap.

He pointed out that Nigeria's tertiary institutions collectively enrol approximately 6 million students, yet only a fraction ever pursue research to its full potential, largely due to the absence of meaningful incentives. According to him, the N25,000,000 prize pool, distributed among the top 10 researchers, creates a nationally visible and financially compelling reason for students to invest seriously in their research, which over time will raise the baseline quality of academic output across the country.

Akah added that INARIC aligns with the Federal Government's National Laureate Annual Prize Programme, which awards up to N20 million to students whose dissertations and theses show outstanding intellectual and commercial potential.

Speaking at the event, Executive Director of INARIC Project Organisation, Amadi Iheukwumere, stressed that African research should create value and lead to startups, businesses, and job creation. He called for support from stakeholders outside government, including foundations and corporate organisations, noting that collaboration is key since many research initiatives die at the point of conception due to a lack of funding.

Prof. Faloju Olubunmi of the University of Lagos called for stronger academia industry collaboration to ensure real world application of research, suggesting that companies establish and fund research units within their systems. Prof. Olatokunbo Okiki, the UNILAG Librarian, spoke on the importance of evidence based governance, noting that original research can solve local challenges and grows in value over time. Representatives of Wema Bank, including Abayomi Olomu and Bunmi Ayodele, also attended the event.