ACE-FUELS financial activities are strategically allocated to alternative FUEL research-driven solutions that can grow Nigeria’s economy and workforce and maximize the return on investment for every stakeholder. ACE-FUELS funding initiative enhance the development of a broad funding portfolio that includes other aspects of capacity development within the areas of interest. ACE-FUELS sources for additional funding from:
- Identifying and cultivating close relationships with a diversified set of national, regional and international donor agencies.
- Responding to requests for research proposals from national, regional and international donor agencies.
- Searching for open research grants.
- Direct solicitation of financial partners.
- Consultancy and product commercialization.
- Providing education and training sessions and short courses.
The identified benefits of ACE-FUELS collaboration with industry are wide-reaching, including additional funding for research, graduate training, access to facilities and equipment, the opportunity to relate research with real-world problems faced by industry, research commercialization. We also reach out and interact with government to in order to evolve a well-coordinated action plan as well as develop policy and funding mechanisms to further promote industry-university partnerships.There are immense benefits to institutions and researchers that collaborate within the framework of ACE-FUELS project. These projects provide funding opportunities and facilities to undertake research as well as provide research training which will in-turn promote development of new knowledge and ideas as they cut across geographic boundaries.
ACE-FUELS also stimulates capacity to conduct significant scientific research by providing access to funding, expertise and equipment, which provide opportunities for individual participants to learn about new methodologies and research approaches, as well as access complimentary skills and knowledge that promote sustainability, new ideas, as well as develop research leadership skills.
The Center has policies and structures that assist faculties, including those still enrolled for PhDs to become more broad-minded, more innovative, more productive and more effective in their work. Staff with PhD qualifications obtained not later than five years back are encouraged to seek postdoctoral research training in research laboratories abroad. Funding support, where necessary, are provided by TETFund, under the academic staff development program.ACE-FUELS has a clear target to transition funding from the World Bank to external research support, with a goal of becoming self-sustaining by the end of the year 2024.We are striving to increase partnerships and sponsored support to enable us to sustain the Center’s activities and individual programs by the end of the year 2024. We will achieve this self-sustaining status through business opportunities that expand the impacts of our training and research programmes, facilitating and convening stakeholders, and influencing the narrative around critical issues within our areas of focus.The proposed enterprise-funding model will promote collaborations with industry partners and other valued institutions.ACE-FUELS programs foster economic growth by providing advanced technologies,supporting local firms and enhancing the attractiveness of the region to outside investors.