Nigeria Saves N79.69bn Through Capital Flight, Says DG NOTAP
The Director-General, National Office for Technology Acquisition and Promotion (NOTAP), DanAzumi Ibrahim, has said the agency from 2015-2018 saved the country the sum of N79.69 billion through capital flight.
He said a total number of 1,190 Technology Transfer Agreements (TTA) was received while a total of 1,050 were registered which represents 88.24 percent, adding that during the period a number of 283 companies were monitored.
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He also said since he assumed office in 2015 the revenue generation of the agency increased by over 50 percent from N322 billion to N489 billion in 2018, stressing that this development made the agency to receive an award as the most improved MDAs in transparent service delivery this year from Presidential Enabling Business Environment Council (PEBEC) chaired by the Vice President, Prof. Yemi Osinbajo.
“Number of companies monitored during the period was 283 and the sum of N79.69 billion was saved, which would have gone out of the country as capital flight, ” he said
To this end, President Muhammadu Buhari has renewed the appointment of the DG for another four years term. In the letter, dated 18 October 2019 and signed by the Secretary to the Government of the Federation (SGF) Boss Mustapha.
The letter reads: “I am pleased to inform you that Muhammadu Buhari, President Federal Republic of Nigeria has approved the renewal of your appointment Director-General/Chief Executive Officer, National Office for Technology Acquisition and Promotion (NOTAP) for a second and final term of four years with effect from 18th of October, 2019.”
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Speaking at a press briefing on the achievements of the agency, Ibrahim explained that the agency had embarked on the automation of Technology Transfer Registration (TTR) process in 2017, stressing that the process would enable clients to have the opportunity to track their applications and quickly respond to any query that might be raised by NOTAP after evaluating the agreements.
The director-general added that NOTAP in 2015 initiated some projects in partnership with private sectors to provide scholarships to five talented Nigerians pursuing their Ph.D. studies in five universities in the country, noting that in 2018 ten candidates were also selected to undergo their PhDs.
On patent assistance to Nigerian researchers, Ibrahim stated that under his tenure a total of 122 patents were secured on behalf of the Nigerian researchers from the patent registry in 2018. He said in 2015, six patents, 2016-16 patents, 2017-50 patents and in 2018 the number increased to 58 patents
He added that the agency had also selected 45 flagship projects to the Bank of Industry in 2016 in which six were selected to provide the financial support for their commercialization.
He listed some of the projects to include, Development and Production of Typhoid Fever Vaccine, Novel Anti-Snake Vaccine Discovered (COVIP) from a vegetable seed protein.
On his plan for the next four years, the director-general noted that some of the projects embarked upon during his first tenure would be completed particularly the completion of its headquarters and the completeion of the automation technology transfer agreement registration.
