BENIN CITY — Igbinedion University, Okada (IUO), has commenced a strategic push to transform research into commercially viable products, services and enterprises capable of creating jobs and driving sustainable economic development.
The Vice-Chancellor of the University, Prof. Lawrence Ikechukwu Ezemonye, made this known on Wednesday at the 8th Governing Council Retreat of the institution held at Kada Plaza, Sapele Road, Benin City.
Ezemonye said the retreat, themed “Council as a Catalyst: Accelerating Research Translation, Commercialisation and Development for Sustainable Development,” was designed to reposition the university beyond conventional academic functions and strengthen its contribution to national development.
He noted that although Nigeria was committing significant resources to research and commercialisation, too many valuable research outputs remained “on laboratory shelves and in academic journals” without translating into products, services, enterprises and tangible benefits for society.
According to him, IUO, as Nigeria’s first private university, must assume a leadership role in bridging the gap between knowledge creation and economic value.
The Vice-Chancellor said the university had grown substantially and now offered more than 96 accredited programmes across seven Colleges and three Schools, adding that the retreat provided an opportunity to build on the institution’s achievements while charting a more impactful future.
On strategic leadership, Ezemonye declared that excellence required deliberate planning, measurable goals and continuous improvement.
“A vision without measurement is hallucination; a mission without measurement is wishful thinking; and objectives without outcomes are empty promises,” he said.
He challenged the Council and Management to move beyond business as usual and redefine the role of a 21st-century university.
He said classrooms should become “launchpads for innovation,” curricula should serve as “moulds for resilient entrepreneurs,” while university degrees should become “the charter for economic transformation.”
On funding and resource mobilisation, the Vice-Chancellor warned that excessive dependence on tuition fees was unsustainable.
He advocated diversification through endowment funds, alumni contributions, public-private partnerships and, most critically, research commercialisation.
Ezemonye said the Federal Government’s allocation of ₦3 billion to the Research, Innovation and Commercialisation Committee in the 2026 financial year presented an opportunity for IUO to position itself strategically to attract funding and investment.
He stressed the need for the university to develop the intellectual infrastructure required to nurture enterprise and attract investors.
The Vice-Chancellor also highlighted the importance of intellectual property governance, patenting and the creation of university spin-off companies.
He said IUO had embraced the Triple Helix Model, which promotes collaboration among government, industry and academia, and urged the institution to strengthen frameworks for protecting researchers’ innovations while creating pathways for viable businesses to emerge from its laboratories.
Ezemonye noted that the National Office for Technology Acquisition and Promotion (NOTAP) had commenced processes for patenting and commercialising research works by Nigerian universities.
He called for robust patent guidelines and an institutional culture that celebrates innovation not only through academic publications but also through products, enterprises and commercial impact.
On data governance, the Vice-Chancellor described data as the “lifeblood” of modern institutions and stressed the need to protect the university’s data against unauthorised access, disclosure and misuse.
He disclosed that IUO had already demonstrated its commitment to data protection by hosting training sessions with the Nigeria Data Protection Commission and pledging to integrate artificial intelligence technologies within robust ethical frameworks.
He said a comprehensive data governance framework covering storage options, infrastructure and ethical use had become non-negotiable as the university expanded its research and commercialisation activities.
Ezemonye said the retreat’s four sub-themes were carefully selected to build on existing progress while enabling the university to “learn and relearn” for greater institutional impact.
The Vice-Chancellor also paid tribute to the Chancellor and founder of IUO, Sir Chief (Dr.) Gabriel Osawaru Igbinedion, CON, CFR, who, according to him, would attain the age of 92 on September 11, 2026.
He described Igbinedion as a visionary entrepreneur who rose from humble beginnings in Okada to establish a diversified conglomerate spanning manufacturing, aviation, banking and education.
Ezemonye recalled that Igbinedion founded Nigeria’s first private university in 1999 after persistent advocacy for private higher education, while his scholarships and philanthropic interventions in rural development and university infrastructure had transformed numerous lives.
He said the founder’s entrepreneurial spirit, commitment to excellence and belief in education remained a source of inspiration as the university deliberated on its future.
The Vice-Chancellor also expressed appreciation to Deputy Chancellor, Chief Lucky Nosakhare Igbinedion; the Pro-Chancellor and Chairman of Council; members of Council; Deans and Directors; and the resource persons and facilitators for their contributions to the institution’s development.
He said the task before the university was both urgent and noble, stressing that as Nigeria’s first private university, IUO had not only a history to preserve but also a responsibility to fulfil.
According to him, “The transition from being a job seeker to a job creator is perhaps the most critical transition we must engineer.”
Ezemonye urged Council and Management to ensure that deliberations at the retreat produced actionable strategies capable of positioning IUO as a beacon of research commercialisation, innovation and sustainable development.
He expressed confidence that through collective commitment, the university would emerge as an internationally competitive centre of academic excellence and a catalyst for economic transformation.
He urged participants to “engage with purpose, deliberate with passion and commit to outcomes” that would accelerate IUO’s contribution to national development.
