The Minister of Innovation Science and Technology, Geoffrey Nnaji, has said Nigeria will benefit from patents only when they translate to products or services that drives economic growth.
Nnaji made this known on Monday while presenting patent certificates to researchers and inventors facilitated by the National Office for Technology Acquisition and Promotion (NOTAP) in Abuja
He disclosed that NOTAP has secured 340 patents from indigenous inventors and researchers from 2010 till date.
“I equally wish to emphasise that this is just the first step in reaping the economic benefit of your inventions. The nation can only derive maximum benefit from your efforts, if your patents translate into products/services for economic growth.”
“I am reliably informed that from 2010 to date, NOTAP has been able to secure about 340 patent certificates for inventors and researchers of tertiary and research institutes and individuals.
“Intellectual property in the form of technological innovation has today become the basis of international power structure. The speedy industrialisation of the country and its economic growth depend largely on the efforts of our researchers.”the minister said .
The Director General NOTAP, Dr. Obiageli Amadiobi said patents are important tools in innovation.
“We recognise that patents are vital tools in the journey of innovation. They protect the rights of inventors, encourage further creativity, and foster a culture of technology-driven solutions/ However, we also understand that innovation does not end with securing a patent. It is merely the first step in a larger process that requires sustained support, collaboration, and commercialization.
“Our intervention in this space is driven by a clear purpose; to reduce the financial burden on academicians and researchers so they can focus on the essential tasks of research and innovation.
“We recognise that the process of securing intellectual property rights can be costly and complex, and this often poses a significant challenge for many inventors, especially within the academic community.
“By stepping in to support this process through assisting in evaluation and drafting of patent applications, payment of necessary patenting fees, NOTAP ensures that our researchers can channel their energy and resources into creating solutions that address societal challenges and contribute to national development.
“Your creativity resilience and commitment are shining examples of what is posible when talent meets opportunity.” she added
NOTAP secured a total of 21 patent certificates for some individuals, groups and the academia, which they promise to monitor and commercialise their products or services to improve the nation’s economy.
One of the recipients, the founder of Horizon International University, Efon Alaaye, Ekiti State. Prof. Ajibade Abiodun who spoke, said they “patent owners” need protection because their inventions and Innovations will not be welcomed by market forces.
