Dangote refinery seals deal with NCDMB on oil sector research, development
Dangote Refinery has announced a partnership with the Nigerian Content Development and Monitoring Board on the promotion of research and development in Nigeria’s oil and gas industry. According to a statement from the firm, Dangote refinery was a platinum sponsor of the second edition of the NCDMB Research and Development Fair and Conference 2021 in a bid to show its commitment to the project. The statement also said that Dangote refinery was able to showcase its 650,000 barrel per day project and the research and development activities it had carried out during the construction of the refinery at the fair. The Executive Secretary of NCDMB, Mr Simbi Wabote, commended the company’s support for the fair. He expressed the need for companies in the Nigeria oil and gas sector to start nurturing the growth of the country’s home-grown technology rather just being wholesome consumers of other people’s innovations. Wabote was quoted as saying, “Analysis of global practices of Research and Development revealed that the combined R&D spend of just five countries makes up 63.5 per cent of the entire global R&D spend. These five countries, namely USA, China, Japan, Germany, and India were also observed to have accounted for over 50 per cent of the global Gross Domestic Product.