– Provides N20 million R & D support
The Petroleum Contractors Trade Section (PCTS) of the Lagos State Chamber of Commerce and Industry (LCCI) recently paid a courtesy visit to the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote at the Local Content Tower, Yenagoa.
The visit which was aimed at fostering the existing relationship between the group and the NCDMB, was led by the Chairman of the PCTS, Tayo Akinkunmi in company of the executives of the member companies, Nelson Wilbert (Schlumberger), Rosario Osobase (Tenaris), Derek Izedonmwen (NigerStar7), Juan Juanicotena (Tenaris), Okey Okoli (Haliburton)
PCTS also capitalized on the visit to formally present its plan of N20 million R & D Fund in direct support of NCDMB – driven Center of Excellence (COE) in some Nigerian Universities to help boost research and development in spearheading future industry direction in the next 3 years.
He noted that, “R & D is key to attaining industrial development in Nigeria,” and that the Centre of Excellence initiative by the NCDMB is a path towards the right direction.
Nigeria spends only about 0.2 percent of its Gross Domestic Product on research and development as against developed and some developing countries who spend between 2.5 to 4 percent of their annual GDP respectively for the same cause.
The ES received the delegates in the company of his team which included Patrick Obah, Director, PRS and Tunde Adelana, Director, M&E. Others are Abayomi Bamidele, Senior Technical Assistant to the ES; Victor Amabebe, Special Assistant to the ES; and Farid Blell, Technical Assistant to the ES.
In his welcome remark, Wabote noted that the PCTS plays a significant role in implementing local content practices in Nigeria’s oil and gas sector.
Wabote appreciated the group for it’s support of N20 million R & D fund, stating that such gestures will go a long way to aid the board in it’s quest towards empowering research and development especially in the oil and gas industry.
Inaugurated in July 2008, PCTS is a private industry group comprising major services and technology providers in the hydrocarbon industry.
The targets of the Trade Section are based on needs but it primarily focuses on issues of safety, security, viable legislation and corporate responsibility. All activities of the trade section are carried out in conjunction with the Lagos State Chamber of Commerce and Industry under a full transparency doctrine.
PHOTO CAPTION:
L-R
Executive Secretary of NCDMB, Engr. Simbi Wabote flanked by Tayo Akinkumi and Rosario Osobase, along with other executives of PCTS and the NCDMB
