Section 23: Establishment of Fund for the Institute.

(1) The Institute shall establish and maintain a Fund which shall be applied towards the promotion of the objectives specified in this Act.
(2) There shall be paid and credited to the Fund established under subsection (1)-
(a) such sums as may be provided by the Government of the Federation or appropriated by the National Assembly for payment into the Fund;
(b) fees charged for services rendered by the Institute, including royalties on Institute's technologies ceded to industries for national development;
(c) all sums accruing to the Institute by way of gifts, testamentary dispositions, endowments or contributions from philanthropic persons or organisations;
(d) contributions from the organised private sector;
(e) foreign aids and assistance from bilateral and multilateral agencies; and
(f) proceeds from commercialisation of research and development products of the Institute.
(3)
Notwithstanding the provision of subsection (2), every application for registration into the Institute's Journal, shall attract a fee, which shall be credited and maintained in a separate account of the Institute, part of which shall be used for the publication of the Institute's journal.