The Nigerian Content Development and Monitoring Board has earmarked $50 Million Research and Development Fund for commercialising research works.
The Executive Secretary, Nigerian Content and Development and Monitoring Board, NCDMB, Simbi Wabote, made this known on Tuesday in Lagos at the press briefing to announce the second edition of NCDMB Research and Development Fair which will take place September 9, 2021 in Yenagoa Bayelsa State.
“The Board has concluded plans to host the 2nd edition of the NCDMB Research and Development Fair and Conference with the theme: “Creating Sustainable Collaboration in Research and Development for the Energy Sector”, through hybrid participation in compliance with COVID-19 protocols and it promises to feature presentation of Research breakthroughs, panel discussion on R&D pillars of success and a special feature on how Nigeria can adopt a sustainable acceleration program for launching innovative ideas into the market”, he said.
The Honorable Minister of State for Petroleum Resources according to him has graciously confirmed his attendance and will be launching the NCDMB 10-year R&D roadmap as well as commission the Technology Innovation and Incubation center established by the Board to facilitate innovation and incubation of ideas for market adoption.
“The Minister will also launch the $50 Million R&D Fund utilization protocol. I encourage interested members of the public and Nigerians in the Diaspora to log on to the link http://ncdmb.gov.ng/rdfair2021/ to register and attend this important conference”, stated the Executive Secretary”, he stated.
Speaking further, he said, “We are therefore hosting the 2nd edition of the NCDMB R&D fair on September 9th 2021 in Yenagoa Bayelsa State to bring together industry stakeholders, academia, and researchers towards achieving a common agenda on R&D as a pillar for sustainable local content. The maiden edition of the R&D Fair was organized in 2017 where Research breakthroughs were exhibited, and linkages were facilitated between Researchers and end-users in the Oil and Gas Industry”.
“Since the successful hosting of the maiden edition, significant progress has been made in elevating the industry collaboration on R&D, including:
Establishment of Nigerian Content Research and Development Council with a mandate to advise the Board on matters relating to research and development in the oil and gas industry”, added the ES.
The Executive Secretary disclosed that Development of R&D 10 Year Strategic Road Map, which will be launched during the 2021 R&D Fair.
“Development of frameworks for supporting research breakthroughs to products for industry application. Over 20 Researchers are benefiting from the Board’s intervention. Creation of $50 Million Research and Development Fund. Inauguration of Technical Advisory Board on Nigerian content Research and Development Fund”, stressed the NCDMB boss.
Other activities according to him include signing of MOU to establish R&D Centers of Excellence in five universities – Federal Universities of Technology in Minna, Akure and Owerri, Niger Delta University Amasoma and Modibbo Adama University of Technology Yola.
“Nigerians may be aware that the NCDMB established in 2010 is mandated to develop the capacity of the local supply chain for effective and efficient service delivery in the oil and gas industry, promote value addition in Nigeria through enforcement of utilization of Nigerian-made goods, services, and manpower in oil and gas activities and facilitate home-grown technology and innovation through the nurturing of local Research and Development (R&D) capabilities”, he maintained.
In the light of the pivotal role of Research and Innovation in the development of indigenous technology, NCDMB according to him has placed high premium on R&D oversight as a critical enabler in achieving the Board’s aspiration of 70% local content by 2027.
“Section 67 of the NOGICD Act 2010, mandates the Board to conduct workshops, conferences, seminars, symposia, and other public fora to enhance the implementation of the provisions of the NOGICD Act 2010.