The Nigerian Content Development and Monitoring Board, NDCMB, has said it is funding research and innovation in Nigeria's oil and gas sector with its $50 million Research and Development Fund. The Research and Development Fund was established in 2020, and is one of the facilities the NDCMB leverages on to promote local content in the Nigerian oil and gas industry.
Also speaking at the event, the President of Triple Helix Nigeria, Abdulmalik Halilu, noted that the organization is committed to promoting research and innovation efforts in Nigeria and across Africa. Halilu, who is equally the Director of Monitoring and Evaluation at NCDMB, stressed that every human progress is a product of innovation. According to him, universities and other academic institutions should play a critical role in the commercialisation of research.