The Nigerian Content Development and Monitoring Board has called on the government to invest in research and, stating that the board has established N50m research and development grant to encourage academia and private researchers to come forward with their research ideas.

It also added that the Petroleum Industry Act would bring a lot of opportunities, especially in the gas sector.

The Executive Secretary, NCDMB, Simbi Wabote, said these at the Real News, 9th Anniversary Lecture and investiture into the hall of fame.

Wabote said, “If we don’t invest in research and development, soon these developed countries will come. We must invest in local technology.

“Soon, the global community would advise all of the companies that manufacture the technology who give us the tools to look for gas and oil not to manufacture hydrocarbon tools, if not they won’t fund them. They will advise them to manufacture tools for alternative sources of energy.

“Having passed it, everybody now knows what the law and the principles are within the law, the Petroleum Industry Act would help open up investments.

“If investment comes, there would be job opportunities for Nigerians, our production would increase and we would be able to support the whole of Africa together in regards to increasing the energy consumption in Nigeria.”

On her part, General Manager, External Relations and Sustainable Development, Nigerian Liquefied Natural Gas, Mrs Eyono Fatayi-Williams, said, “It took almost two decades for the PIB to become a law today. In the Nigeria Liquefied Natural Gas train 7 project, the aspect of fashioning out what the youths would get would not have been provided, without the NCDMB.”

She added that the project was expected to produce12,000 direct jobs and 40,000 indirect jobs.

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