The National Office for Technology Acquisition and Promotion (NOTAP) has established another Intellectual Property and Technology Transfer Office (IPTTO). The new office is at the University of Ilorin, Kwara State and brings the total IPTTOs to 39 across the country..
The Director General of NOTAP, Dr. DanAzumi Mohammed Ibrahim, who spoke during the commissioning ceremony stated that the establishment of IPTTOs in some strategic tertiary Institutions in the Country was to create awareness on the importance of intellectual property to the techno-economic development of the country.
According to the DG, knowledge is what rules the world and technology has become the global index for measuring growth and economic sustainability of a nation. He added that the establishment of IPTTOs in tertiary institutions in Nigeria will in the long run stimulate demand-driven research in the research institutions.
Universities in the developed countries have continued to rank higher than those in the developing countries because the Research and Development (R&D) infrastructure and other social facilities are better, making it possible for research results from the developed countries to metamorphose into products and services, while those of the developing countries remain on the shelves at prototype level.
The DG stated that there was a poor innovative and intellectual property protection culture in the country but the IPTTOs will facilitate the galvanization of research results for onward commercialization. He further stated that Nigeria has one of the largest knowledge industry in the entire West African sub-region with over 142 Universities, about 125 Polytechnics, 98 Colleges of education and more than 300 research institutions, yet over 90% of our financial institutions are powered by foreign technology.
The DG encouraged the University to maximize the benefits of the IPTTO to ensure that in the nearest possible time, it will no longer depend wholly on state budgetary allocation but royalties from licensing of its research results and Commercialization of its R&D results.