NCDMB to fund research and development in oil, gas sectors

The Nigerian Content Development and Monitoring Board (NCDMB) says its $50 million research and development (R&D) fund will finance R&D in the oil and gas sectors.

Felix Ogbe, executive secretary of the NCDMB, spoke on Wednesday during the SciBiz 2024 annual conference, organised by Triple Helix Nigeria in Abuja.

The conference, themed “Integrating Research, Innovation, and Policy: Triple Helix Pathway to Research Commercialisation,” was sponsored by the NCDMB, Petroleum Training Institute (PTI), and other stakeholders.

Triple Helix hosted the conference following its successful inauguration in 2021.

The conference, according to Ogbe, is in fulfilment of the requirements for galvanising members in intellectual discourse to promote research commercialisation and innovation culture in Nigeria and Africa.

Ogbe, represented by Silas Ajimijaye, general manager of research and development at NCDMB, said funding is crucial to the success of any sustainable initiative, hence the establishment of the fund in 2020.

The executive secretary also stressed the importance of leveraging expertise, advanced technologies, and best practices from international experts and institutions to enhance research and innovation capabilities.

He described partnerships as a key strategy to boost local initiatives and position Nigeria as a significant player in global innovation.

“Strategically, the Triple Helix model of Academia, Industry, and government collaboration is an appropriate international business framework for expressing ideas about how research could be turned into new products and services,” Ogbe said.

“One avenue through which NCDMB exercises this mandate is by applying local content development to enhance research and commercialisation of innovative solutions for Nigeria’s oil industry.”

’MORE IMPACTFUL RESEARCH PROJECTS TO BE INTRODUCED’

Ogbe said more impactful research projects would be introduced in the coming months, complementing the fourteen applied research projects currently supported, which are at different stages of technological development.

He urged participants to seek more collaborative opportunities to formulate strategies for advancing progress.

Abdulmalik Halilu, president of Triple Helix Nigeria, said the shift from education to research and commercialisation marks a new frontier where academia, industry, and government can work together through the Triple Helix model.

Halilu said the model would enable research to go beyond laboratories and classrooms, addressing real-world challenges and promoting economic growth.

He cited the World Intellectual Property Organisation (WIPO), which said Nigeria’s annual patent application has risen from below hundred in 2016 to more than 400 in 2023.

The president said the increase indicates that with the appropriate policy framework, Nigeria could evolve its universities into centres of excellence focused on solution-based entrepreneurship.

Halilu said the Triple Helix Chapter was founded in Nigeria in 2021 by professionals sharing a common interest in fostering economic development through research and innovation, addressing the challenges and opportunities present in a knowledge-based economy.

“The association has a global network of six regions including: North America; Latin America; Europe; North Asia; South Asia and Africa,” Halilu said.

“We set an ambitious Vision 10-10-10-10 to demonstrate our commitment to bequeath entrepreneurial university system in Nigeria.

“Through this vision, Triple Helix Nigeria seeks 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.

“This model has worked in many of the regions where Triple helix Association has a strong presence and we have no doubt that it can happen in Nigeria and Africa.”

Halilu expressed optimism that the conference would facilitate organised collaborations between the industry and the research community, aiming to secure funding for research directed at Africa-based scholars.