NCDMB invests in R&D to promote innovation

The Nigerian Content Development and Monitoring Board has revealed plans to support new research and development projects as part of its Technology Innovation and Incubation Strategy to catalyse innovation in the Nigerian oil and gas industry and linkage sectors.

The Executive Secretary, NCDMB, Felix Omatsola Ogbe, hinted that at the 2024 edition of the Triple Helix Nigeria SciBiz Conference, themed ‘Integrating Research, Innovation, and Policy: Triple Helix Pathway to Research Commercialisation’, held recently in Abuja.

According to the board, these new R&D projects will add to the 14 applied research projects NCDMB currently sponsors at various stages of technological readiness.

 It noted that one example was Amal Technology, which manufactured gas leak detection devices and printed circuit boards in Abuja.
He described research and innovation as the lifeblood of Nigeria’s hydrocarbon industry, adding that NCDMB had consistently applied local content development to enhance research and commercialisation of innovative solutions for the country’s oil and gas sector.

“This way, NCDMB hopes to accelerate the circle of innovation and wealth creation by fostering partnerships between universities, research institutions, and industry players,” Ogbe said.
Represented by the General Manager of Research and Statistics, Mr Silas Ajimajaye, the executive secretary charged Nigerians to embrace the spirit of innovation and work together to build a future where research and development are at the forefront of the national agenda.
“Creating an ecosystem where research, innovation and policy can interact has never been more critical as we steer through the complexities of the 21st century. The Triple Helix Model of academia, industry, and government collaboration is an appropriate international business framework that adds to our strength of innovation and ensures that all efforts go into fuelling the grand old aim—national development,” Ogbe stated.

He further disclosed that the $50m Nigerian Content Research and Development Fund was created by the board in 2020 from the Nigerian Content Development Fund and was designed to provide much-needed research funds in the oil and gas R&D space.

Also, the President of Triple Helix Nigeria, Alhaji Abdulmalik Halilu, said, “The THN, whose membership has grown from an initial 12 founding members to 240, realises the fact that research and innovation have fuelled human and societal development and that the body seeks to catalyse enterprises so oriented.

“THN is dedicated to fostering value creation in Nigeria’s economy by embracing local content, developing technology skills to address African challenges, advocating for research capabilities in knowledge institutions, and building structured partnerships between industry and researchers to attract funding for Africa-based projects.”

He revealed that Triple Helix Nigeria sought to inspire at least 10 knowledge institutions to accelerate innovation and have at least 10 per cent equity in 10 listed companies in the next 10 years.