Nigeria’s Content Development Monitoring Board said a $50 million research and development fund is supporting initiatives in the oil and gas sector.
NCDMB Executive Director Felix Ogbe made this known on Wednesday at the SciBiz 2024 Annual Conference hosted by Triple Helix Nigeria in Abuja.
The theme of the event was ‘Integrating research, innovation and policy: the triple helix pathway to research commercialization’.
Cyrus Azimijay, Director of Research and Development, who represents Ogbe, explains how the triple helix model, a collaboration between academia, industry and government, can transform research into new products and services. He pointed out that it provides an appropriate international business framework to demonstrate the
He emphasized that funding is essential for meaningful and sustainable initiatives, which is why the much-needed fund was established in 2020.
The Director-General stressed the importance of leveraging the expertise, cutting-edge technologies and best practices of international experts and institutions to strengthen Nigeria’s research and innovation potential.
He explained that the partnership is a strategic approach that will strengthen local efforts and enable Nigeria to become a major player in global innovation.“Strategically, the triple helix model of collaboration between academia, industry and government is an appropriate international business framework for expressing ideas about how research can be transformed into new products and services. ” he said.
“One of the means by which NCDMB will fulfill this mandate is by applying local content development to enhance research and commercialization of innovative solutions for Nigeria’s petroleum industry.
“Therefore, there is the $50 million Nigeria Content Research and Development Fund, established by the Board in 2020, which is designed to provide much-needed research funding in the oil and gas research and development sector. .”
Ogbe also said that in addition to the 14 applied research projects currently sponsored at various stages of technical readiness, more impactful research projects will be launched in the coming months. said.
He urged participants to explore opportunities for greater collaboration to develop strategies that drive progress.
In his opening remarks, Abdulmalik Khalil, President of Triple Helix Nigeria, emphasized the importance of commercializing research, calling it a “formal step in advancing the dialogue around research.”
He said the purpose of the conference is to ensure that research is not confined to academia, but is translated into practical innovations that solve real-world problems.
He cited the World Intellectual Property Organization, which noted that Nigeria’s annual patent filings increased from less than 100 in 2016 to more than 400 in 2023.
According to him, this significant growth suggests that with the right policy environment, Nigeria has the potential to transform universities into centers of excellence for solutions-based entrepreneurship.
“In this era of continued integration, the vision of universities has changed fundamentally. Their role is no longer limited to educating minds or advancing theoretical knowledge,” he said. .
“We now recognize that universities play a central role in the commercialization of research, turning knowledge into tangible progress that drives economic growth.
“The transition from educational research to commercialization is a journey where academia, industry, and government collaborate under a triple helix model to ensure that research transcends the boundaries of the laboratory and classroom to solve real-world problems and is economically viable. Born from an evolving frontier that fosters prosperity.”
Mr. Khalil, who is also Director of Monitoring and Evaluation at NCDMB, is a global leader in the global market in which universities, with the support of large multinational corporations, acquire stakes in start-ups that develop from research, thereby creating revenue-generating opportunities for universities. I gave an example.
“Our universities must not only produce high-quality degrees, but also turn research results into products that generate new business and benefit the university,” Khalil added.
Regarding research presentations and submissions, Eukaria Nwaiti, Chair of the Triple Helix Conference Planning Committee, said over 158 authors submitted 47 high-quality papers.
Nwaiti explained that these papers represent a framework that will play a key role in guiding academia, industry and governments to promote sustainable development.
She said contributors to the conference came from the six geopolitical zones of Nigeria and the diaspora.
“We received 8 per cent contributions from the diaspora, an amazing 5 per cent contribution from South-Eastern Nigeria and 60 per cent from the South-South region,” she said.
“We received 8 percent from the Southwest, 16 percent from the North Central, 3 percent from the Northeast and 15 percent from the Northwest.
“This diversity underscores the national relevance of the conference and the importance of involving stakeholders from all corners of Nigeria, including the diaspora.
“In terms of Triple Helix representatives, the breakdown of paper contributors is as follows: academia, 55 percent; industry, 31 percent; and government, 14 percent.”