Sylva to Launch $50m Oil Industry Research, Development Initiative
The Minister of State for Petroleum Resources, Chief Timipre Sylva, will next week launch the oil and gas Research and Development (R&D) Fund Utilisation Protocol put in place by the Nigerian Content Development and Monitoring Fund (NCDMB).
Sylva will also inaugurate the R&D 10-Year Strategic Roadmap as well as the Technology Innovation and Incubation center established by the NCDMB to facilitate innovation and incubation of ideas for market adoption.
The minister will be performing the three functions at the second edition of the NCDMB’s R&D Fair and Conference slated for September 9, 2021 in Yenagoa, Bayelsa State, with the theme, “Creating Sustainable Collaboration in Research and Development for the Energy Sector.”
The Executive Secretary of NCDMB, Mr. Simbi Wabote, disclosed this in Lagos at a press conference to herald the upcoming R&D fair and conference.
He said the R&D fair was intended to bring together industry stakeholders, academia, and researchers towards achieving a common agenda on R&D as a pillar for sustainable local content
Wabote added that the maiden edition of the fair organized in 2017 witnessed exhibition of research breakthroughs and facilitation of linkages between researchers and end-users in the oil and gas Industry.
According to him, since the successful hosting of the maiden edition, significant progress had been made in elevating the industry collaboration on R&D.
Wabote listed the progress recorded through the R&D fair to include the 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.
Others, he said, included Development of the R&D 10-Year Strategic Road Map; development of frameworks for supporting research breakthroughs to products for industry application; and the fact that over 20 researchers are benefiting from the board’s intervention.
He mentioned other progress recorded from the R&D fair as the creation of $50 million Research and Development Fund; inauguration of the Technical Advisory Board on Nigerian content Research and Development Fund; the signing of Memorandum of Understanding (MOU) to establish R&D Centers of Excellence in five universities.
“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“, through hybrid participation in compliance with COVID-19 protocols.
“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 programme for launching innovative ideas into the market,” Wabote said.