The National Office for Technology Acquisition and Promotion (NOTAP) has sought for closer partnership with the Nigerian Investment Promotion Commission (NIPC) towards enhancing technology transfer in Nigeria through Foreign Direct Investments (FDIs).

Director General NOTAP Dr. DanAzumi Mohammed Ibrahim sought the partnership when he led management of NOTAP on a courtesy visit to the Acting Executive Secretary of NIPC, Ms. Ladi Hauwa Katagum.
He said the present administration under the leadership of President Muhammadu Buhari is serious about looking inwards to solve the nation’s problems and therefore regulatory agencies need to work closely to encourage investors especially those willing to transfer their technologies to Nigerians towards the much needed growth of the economy.

The NOTAP boss added that as key agencies of government, NOTAP and NIPC have a responsibility to collaborate to ensure that the Technology Transfer Gap Initiative being championed by the leadership of the Federal Ministry of Science and Technology aimed at promoting technology transfer by offering better incentives for Foreign Direct Investments in Nigeria is fully realized.

Dr. Ibrahim disclosed that more than 90 percent of technologies that powers the Nigerian economy are imported and there is an urgent need for local research institutes to develop the human capacity to capture such technologies for the rapid development of the country.

Responding, the Acting Executive Secretary of the NIPC, Ms Ladi Katagum said the visit by NOTAP management is a renewed start for the council as the first stop agency for any investor coming into Nigeria.

She pointed out that the Council has outlined incentives such as the pioneer status grant for investors which allows a 5 year tax holiday for them but there is need to create further incentives for investments especially in the health sector.

She added that there must be proper coordination of the incentives being offered investors and is excited that the visit by NOTAP will promote such action especially from the conception of any investment process in the country.

The acting NIPC boss said the Council is desirous of working closely with NOTAP especially in its investment drive considering the role NOTAP plays in the registration of technology transfer agreements coming into the country.

A technical team comprising of Staff of NOTAP and NIPC is expected to be set up to coordinate the partnership.

NOTAP is amongst the various agencies of government at the One Stop Investment Centre (OSIC) of the Council set up to facilitate ease of business for would be investors.