NOTAP receives accolades for saving N188bn capital flight
Prof. Ajayi Borroffice, chairman Senate Committee on Science and Technology, has said that National Office for Technology Acquisition and Promotion (NOTAP) is playing a pivotal role in the national economy by saving the country a whopping sum of N188.2billion that would have left the country as capital flight.
Senator Borroffice made this statement recently at NOTAP corporate headquarters Abuja when he led the Senate Committee on Science and Technology in an oversight function to NOTAP.
He said the economic situation in the country was not at its best but believes that with agencies like NOTAP that are ready and committed to the technological development of the country, there was hope.
He further commended NOTAP for the wonderful partnership with both public and private establishments especially that of Friesland Campina WAMCO in dairy development which has brought about a 10% local content in milk production in the country.
Prof. Ajayi said the establishment of 38 Intellectual Property and Technology Transfer Offices (IPTTOs) in some selected tertiary and research Institutions in the country was a demonstration of total understanding of the global trend in intellectual property development. He added that as a former lecturer, he understood the huge financial requirement involved and therefore advocates for a special research fund to enable researchers carry out some demand-driven research.
Earlier in his welcome address, Dr. DanAzumi Ibrahim, director general of NOTAP said that the mandate of the Office was very vital to the socio-economic development of the country, adding that no country can be regarded as developed without evolving technology based products and services from her indigenous knowledge system.
The DG said though NOTAP deals mainly with intangibles, the resultant effect of the agency’s regulatory activities was huge in terms of financial savings to the nation, adding that NOTAP insists that no company shall be granted technology transfer agreement certificate to bring in expatriates when there are local capacities to handle such jobs.
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