The minister of state for petroleum resources, Chief Timipre Sylva, has launched a $50 million research and development fund utilization roadmap for the oil and gas industry in Nigeria.
Also launched is a 10-year strategic roadmap and the inauguration of the Nigerian Content Development Council (NCDC) with the mandate to advise the board on matters relating to research and development oversight in the oil and gas industry.
He launched the fund yesterday in Yenagoa during the 2nd Research and Development Fair and Conference hosted by the Nigerian Content Development and Monitoring Board (NCDMB) with the theme: “Creating Sustainable Collaboration In Research and Development For The Energy Industry And Its Linkage Sector”.
Chief Sylva, who was represented by the permanent Secretary, Ministry of Petroleum Resources, Dr. Nasir Sani-Gwarzo, noted that the research and development roadmap backed with the available funds would create a collaborative platform where the academia, industry stakeholders, government institutions and researchers would meet to discuss areas of research interests and development.
He said the launch was timely as it was captured the government’s collective commitment to aggressively drive innovation and project the oil and gas sector in the path of integrated energy sector.
According to him, the key development and production submissions are sourced through local probabilities.
The executive secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote, said research and development was pivotal in the growth and development of any nation, especially in the oil and gas sector because it leads to industrial revolution.
Governor Douye Diri represented by the deputy governor, Lawrence Ewhrudjakpo, expressed the readiness of the Bayelsa State government to create the conducive environment for research and development to thrive.