‘Oil industry needs funding for research’

•As Bakson’s fireproof products get commendation

T Ocontribute to the growth of the oil and gas industry through research, the Chairman, Institute of Oil and Gas Research and Hydrocarbon Studies (IOGRHS), Akin Akindoyeni, has said N250 million can commence research in some areas of the industry such as environmental studies.

Akindoyeni, who stressed the need for authentic research in the industry particularly the hydrocarbon part at an Oil and Gas Product Forum in Lagos, de- scribed the ability of the N250 million as scratching the surface of research.

He said it was pertinent for intellectuals in the field to provide real data through research, not only to government but also to other stakeholders in the industry. This, he noted, would check possible mistakes.

The IOGRHS boss, who described gas flaring as one of the mistakes already made by government due to lack of adequate research, remarked that without re- search finding, no sustainable advice can be given to both the public and private sectors on how to go about manufacturing in the industry.

Meanwhile, IOGRHS hasnamed Bakson Fire Resistant safe brand the Best Fireproof Safe Product of the Year at its Oil and Gas Products Awards held in Lagos.

The award was received by Mr. Jonathan Bakare, Managing Director and Chief Executive Officer of Bakson Investment Nigeria Limited on behalf of the company. Chairman of Council of the institute, Prof. Akin Akindoyeni, handed over the award.

Bestowing the award, the institute noted that Bakson products were “made with the finest fire resistant safe materials that closely adhere to international standards”.

Commenting on the award, Bakare said his company was grateful for such recognition and promised the firm would not rest on its laurels.