Nigerian Content Development and Monitoring Board (NCDMB) is worried over failure of Nigerians to access the $50million the board set for Research and Development (R&D).
Executive Secretary of the NCDMB, Simbi Wabote, disclosed this at a press conference in Lagos,where he also said his agency would not rest on its oars in deepening research and development in the nation’s oil and gas industry.
He told newsmen that the agency would again be taken the initiative to universities and research institutes in the country.
He said:“The fund has been set aside for research and development. But it is yet to be accessed.And, there is no collateral associated to this. No bank account’s requirements. It is not a bank loan. It is a grant. But you must qualify for it. There is a rigorous and transparent process you must go through. We must be fully aware of this.
“We feel that we do not see researchers coming for the fund because there is no enough awareness and to correct this, the minister will launch the fund at the R&D fair in Yenagoa. There will also be a road show, we are going to make noise about it and at the end, we shall get Nigerians who have solutions to access the funds.
“If you know any Nigerian who has a solution to, even our Agric issues, even if he lives in the moon, bring him, we shall be willing to work with him.”
He said the Nigerian minister of state for Petroleum Resources, Chief Timipre Sylva, would launch the $50 million R&D fund at the fair billed to take place in Yenagoa capital of Bayelsa state,next week.
He added:“The board has singled out the period of 2031 R&D fair coming up in Yenagoa, Bayelsa, to launch the $50 million fund. The honourable minister of state for Petroleum Resources, Chief Timipre Sylva, who is so passionate about research and development in the industry, will launch the funds at the R&D fair.
