The Nigerian Content Development and Monitoring Board, NCDMB, says it will boost innovation through its $US50,000 Nigerian Oil and Gas Technology, NOGTECH, Hackathon competition.

The Executive Secretary of the board, Mr. Simbi Wabote, stated this at the demo day held in Lagos, where five start-ups showcased their homegrown innovative solutions tailored to solve local problems in the industry and related sectors.

According to him, the NOGTECH Hackathon is NCDMB’s efforts at addressing local problems in the Nigerian oil and gas industry. He said the five winning innovators in the competition would get sustained institutional and financial support from it and other industry stakeholders to enable them to become successful businesses.

The NOGTECH Hackathon was launched in July, 2020, when the NCDMB called on start-ups, capable of solving crucial challenges facing Nigeria’s oil and gas industry to apply for its $US50,000 grant. He said the NCDMB had earlier given $10,000 grant each to the start-ups, namely AirSynQ, Fuel Intellisense, Gricd Mote, Homefort Energy and Kiakia Gas.

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Source: SweetCrudeReports