The National Office for Technology Acquisition and Promotion (NOTAP) has said that strict regulation of foreign technology imports and the promotion of local innovations are crucial to stabilising the Naira and safeguarding Nigeria’s economy.

NOTAP Director-General, Obiageli Amadiobi, stated this on Friday at a media briefing ahead of the upcoming NOTAP Technology and Innovation Summit (NTIS 2025), scheduled for 6–7 November in Lagos.

She stated that the agency will only register technologies that are relevant to Nigeria, while innovations already developed locally will be prioritised.

Amadiobi explained that unregulated technology imports have historically facilitated capital flight, putting pressure on the Naira and weakening the economy.

“The outcome of proper registration is that we bring down the pressure on our dollar, thus discouraging capital flight. Most people want to use certain technology platforms to move funds out of the country, making our Naira fluctuate without control,” she noted.

Speaking on the summit, she said the two-day event would convene government officials, private sector leaders, academics, and start-ups to discuss policy frameworks that align technological adoption with national economic interests.

According to her, the forum will serve as a strategic platform to foster dialogue and action around innovation policy, technology transfer, intellectual property, and commercialisation.

She said the summit will feature the launch of Project Nigeria’s Outsourcing Value Acceleration (NOVA), expanded promotion of the Local Vendor Policy beyond ICT, workshops on IP management, and exhibitions showcasing local start-ups and innovations.

Amadiobi said hackathons and pitch competitions are planned to integrate young innovators into the broader economy.

Source: https://guardian.ng/news/regulating-technology-imports-will-stabilise-naira-notap-dg/