NUC, NCDMB, others move to commercialise research, end capital flight
24 October 2024 |
5:30 am
Nigerian Content Development and Monitoring Board (NCDMB), Petroleum Training Institute (PTI), Petroleum Development Trust Fund (PTDF), Nigerian Universities Commission (NUC), academics, government and industry organisations converged on Abuja
Nigerian Content Development and Monitoring Board (NCDMB), Petroleum Training Institute (PTI), Petroleum Development Trust Fund (PTDF), Nigerian Universities Commission (NUC), academics, government and industry organisations converged on Abuja, yesterday, in a move to commercialise research and development across Nigerian universities and institutions and end the capital flight.
The players, who came under the Triple Helix Nigeria, were focused on making research contribute a significant part of the country’s Gross Domestic Product (GDP), reduce the cost of production and provide employment for the public.
The stakeholders, including the Tertiary Education Trust Fund (TETFUND), Nigerian National Petroleum Company Limited (NNPC), University of Port-Harcourt, Nigerian Telecommunications Commission (NCC), National Information Technology Development Agency (NITDA) are primarily focusing on product innovation, process innovation and localisation.
Speaking at a conference that focused on ‘Integrating Research, Innovation and Policy: Triple Helix Pathway to Research Commercialisation,’ the President of Triple Helix Nigeria, Abdulmalik Halilu, said over 240 members were already spearheading the process of ensuring that 10 knowledge institutions launch innovations and hold 10 per cent equity in 10 listed companies within the next 10 years in Nigeria.
With some solutions already developed for the country’s oil and gas industry, he said the goal was to transform universities into entrepreneurial hubs by aligning research with market needs and developing new businesses that generate revenue.
Halilu said: “Beyond policy, we are starting to see tangible results. Research and development can improve GDP, generate employment and help organizations, both public and private, save costs.”
He said the group was enhancing existing products to improve their performance while streamlining production processes to reduce per-unit costs and developing solutions locally to reduce dependence on foreign technology.
The Executive Secretary of NCDMB, Felix Ogbe, emphasised the board’s commitment to fostering innovation and collaboration among universities, research institutions, and industry players to enhance Nigeria’s oil and gas sector.
“The NCDMB’s technology innovation and incubation strategy is key to driving sustainable development. Through partnerships and funding, we aim to position Nigeria as a global player in oil and gas innovation,” the Executive Secretary stated.
He said a $50 million Nigerian Content Research & Development Fund established by the agency would support innovation and commercialise local solutions. Acting Chief Executive of PTI, Dr Samuel Onoji, stressed the need to shift from just publishing research to commercialising innovations to address societal challenges and promote sustainable development.
Represented by the Director of Research and Development, Dr Tina Isichei, Onoji said with more than 50,000 graduates, many of whom have become industry leaders, the training by the institution in diving, welding, ocean technology, and petroleum engineering, with a demonstration refinery and full-service station for hands-on learning were examples of what could be achieved locally.
NUC, at the event, also expressed its commitment to facilitating collaboration between universities and industries.
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