The Nigerian Content Development and Monitoring Board (NCDMB) has emphasized the positive impact of its $50 million Nigerian Content Research and Development Fund on the oil and gas sector. Launched in 2020, the fund aims to advance local research and innovation in the industry.
Speaking at the SciBiz 2024 annual conference in Abuja, NCDMB Executive Secretary, Felix Ogbe, represented by Silas Ajimijaye, highlighted the need for global expertise to foster innovation. He noted that NCDMB has established six research centers across Nigeria to strengthen technological development.
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The conference, hosted by Triple Helix Nigeria, promotes collaboration between academia, industry, and government to drive research commercialization. Ogbe stressed the importance of creating an ecosystem where research, innovation, and policy align for sustainable development.
Triple Helix President, Abdulmalik Halilu, also emphasized the potential of Nigeria’s knowledge economy, citing a significant rise in patent applications from below 100 in 2016 to over 400 in 2023.
The NCDMB aims to onboard more impactful research projects and called for more collaborations to develop strategies for progress in Nigeria’s oil and gas industry.
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