FG INAUGURATES NCDMB 10-YEAR RESEARCH, DEVELOPMENT ROADMAP

 In Investor News

The Federal Government has inaugurated the Nigeria Content Development and Monitoring Board (NCDMB) Research and Development (R&D) 10-year roadmap to enhance technology development in the country. Timipre Sylva, Minister of State for Petroleum Resources inaugurated the roadmap at the 2nd NCDMB research development fair and conference in Bayelsa, on Thursday, 9th of September 2021.

The theme of the conference is “creating sustainable collaboration in research and development for energy industry and its linkage sector’’ He said research and development hold the key to economic development of any country. I am delighted to formally launch the NCDMB 10-year R&D roadmap. The roadmap is anchored on eight success pillars – funding, infrastructure, capability, commercial framework, collaboration, governance, legal framework and enforcement.

“The eight success pillars collectively implemented will no doubt position our industry on the path of sustainable assimilation of products of Research in oil and gas operations,’’ he said. Represented by the permanent secretary, Nasir Sani-Gwarzo, he said that beyond financial intervention, the industry must challenge the local academia with its research problems, to ensure the development of home-grown technology and the retention of oil and gas spend in the economy.

According to him, this challenge would be taken seriously by the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners, especially with preparation to unveil a reformed oil and gas industry that is driven by efficiency, innovation and independence as encapsulated in the Petroleum Industry Act of 2021.

“The Petroleum Industry Act has introduced a governance framework for the industry with clear delineation of roles between regulation and profit-centric business units. The Act contains fiscal incentives to attract investment in gas development and local refining, it also provides exceptional care for host communities and future energy security through dedicated funding of frontier basins, renewable energy development and local content.

“The evolving reality is a pointer for stakeholders to begin to look inward and gravitate towards research and development endeavours capable of granting them technological and strategic competitive advantage,’’ he added. The minister further reiterated that a Research and Innovation ecosystem thrives better with strong collaboration between the government-industry and academia.

He said that the reconstitution of the Nigerian Content Research and Development Council (NCRDC) has been approved and made up of six members. The Minister said the certificate of occupancy for the land will soon be issued by the governor of Bayelsa State.

“Once we cross this milestone, I will be performing the ground-breaking ceremony to mark the construction of a major infrastructure in the heartland of oil discovery in Nigeria. I am confident that the combined impact of the fiscal, governance, and developmental provisions contained in the PIA and the major infrastructure and institutional support to R&D will lead us to a new energy industry that is resilient, adaptive to gas-based energy transition and a source of pride to all compatriots,’’ he said.#

Read more at: https://businessday.ng/news/article/fg-inaugurates-ncdmb-10-year-research-development-roadmap/

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