The Nigerian Content Development and Monitoring Board (NCDMB) says it is partnering with the Indian Government and its relevant institutions on research and innovations in Nigerian oil and gas industry.

The board’s Executive Secretary, Mr Simbi Wabote, disclosed this when he visited the Indian High Commissioner to Nigeria, Mr B.N. Reddy, in Abuja.

According to him, the board intends to partner with the Indian Institute of Technology (IIT), the Indian Chamber of Commerce and a host of other institutions.

“The IIT, a leading university in India, has one of the most successful innovations and entrepreneurship eco-system with over 160 startups over the last six years in various fields, including the oil and gas industry.

“It currently has a relationship with some major oil and gas companies such as Exxon-Mobil, Shell, among others,” he said in a statement by the board’s Corporate Communication’s Department on Saturday.

Wabote said Nigeria currently supplied 10 per cent of India’s crude oil needs, stressing that the relationship between the two countries can be deepened in the area of ICT, manufacturing and processing of hydrocarbons.

According to him, the board wants to push the boundaries of the oil and gas industry to enable the innovation to creates multiplicity of jobs for Nigerians.

“The way India has grown its technology companies is of interest to the board and we will like to collaborate with the institutions.

“The meeting also discussed collaborations between Nigerian manufacturing firms and their Indian counterparts to domesticate the fabrication of modular refineries,” Wabote said.

Besides, he said the board intended to attract investors from the South Asian countries to establish LPG cylinder manufacturing factories in Nigeria and also participate in the Nigerian Oil and Gas Parks Scheme (NOGAPS).

The Indian High Commissioner to Nigeria, Mr Reddy said India had the highest rate of startups in the world, adding that the feat was achieved through a programme called “Start-up India”.

He promised to facilitate the board’s plan with the Indian institutions, pointing out that the IIT had trained many Indians which had impacted on India’s economy significantly.

Reddy also advised the board to engage the Indian Chamber of Commerce which had cluster companies with specialty in ICT.