By Emeka Ugwuanyi
The Nigerian Content Development and Monitoring Board (NCDMB) has launched a $50 million intervention fund as part of efforts to deepen domestic research and development (R & D) activities in the Nigerian oil and gas industry.
Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, said the launch of the $50 million intervention fund was part of the board’s leadership drive for research development.
He noted that the intervention fund emphasised the commitment of the board and its understanding of the importance of research and development activities in optimizing the economic productivity of the country urging other stakeholders to contribute to the fund.
Wabote spoke during the flag-off of the board’s Research and Development Fair and Conference Roadshow in Abuja. The roadshow, a prelude to the board’s implementation of the R & D framework.
He outlined the achievements of the maiden edition of the R & D Fair in 2017, noting that the board intends to develop a R & D specialised centre in Yenagoa, Bayelsa State, with a model to convert ideas to products.
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Minister of State for Petroleum Resources, Chief Timipre Sylva, lauded the board for the R & D initiative, describing it as a good start.
Sylva stated that R & D is a major pathway to job creation and the transformation of the nation from a resource-based to a knowledge-based economy.
He, however, regretted the non-responsiveness of the industry and the academia to research development and urged the industry to engage in R & D as the country is striving to move from an oil-based to a knowledge based home-grown technology after over five decades of oil production.
Chief Sylva charged the industry to collaborate more with the academia to bring about home grown solutions to the nation’s problems.
He noted that the issue of climate change is a problem of carbon emission, not necessarily transition to renewables, hence, the industry should research into how it can reduce the carbon emission from oil exploration activities as the nation has far too long allowed other climes to dictate the narrative for Nigeria.
Highpoint of the engagement was the decoration of the NCDMB R & D lapel pin on Sylva by Wabote.
Group Managing Director, Nigerian National Petroleum Corporation, (NNPC), Mallam Mele Kolo Kyari, said the corporation is ready to partner with relevant government agencies and NCDMB on its steering committee to make decisions that will jointly support innovations in the oil and gas industry that will be beneficial to the nation.
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