NOTAP to Penalize Nigerian Companies Using Unregistered Imported Technologies

NOTAP to Penalize Nigerian Companies Using Unregistered Imported Technologies

The National Office for Technology Acquisition and Promotion (NOTAP) has announced plans to penalize and prosecute Nigerian companies that import technologies without submitting them for evaluation and registration. This was revealed by Dr. Obiageli Amadiobi, Director-General of NOTAP, during a news conference on Monday in Abuja.

Dr. Amadiobi emphasized that, by law, every company operating on foreign technologies in Nigeria is required to submit its technology transfer agreements to NOTAP for proper evaluation and registration. She highlighted NOTAP’s role in regulating the inflow of foreign technology to promote the development of locally motivated technologies.

According to Dr. Amadiobi, many Nigerian companies are currently evading this requirement, thereby shortchanging the Nigerian economy. “Available records show that a greater percentage of companies in Nigeria operate on imported technologies which run into millions of dollars without NOTAP registration necessitated by law, thereby shortchanging the Nigerian economy,” she stated.

Read Also: Tinubu Appoints Amadiobi as New DG/CEO of NOTAP

Dr. Amadiobi also expressed the agency’s commitment to working with companies that comply with its regulations, while warning that stiff penalties await those who do not. She explained that some companies avoid registering their agreements by combining software and hardware, which hampers proper evaluation.

In line with the renewed hope mantra of the present administration, Dr. Amadiobi asserted that no company would be allowed to continue avoiding the registration of technology transfer agreements with NOTAP. This measure aims to ensure that services provided are commensurate with the expenditures.

The immediate past Director-General of NOTAP, Dr. DanAzumi Mohammed Ibrahim, recently disclosed that through its regulatory role, NOTAP has saved Nigeria over N79.6 billion that would have otherwise left the country as capital flight. He noted that over 90% of the technologies powering the Nigerian economy are imported and stressed the need to stem this trend to conserve the nation’s scarce foreign exchange.

Dr. Ibrahim also pointed out that while Nigerian researchers, inventors, and innovators make significant efforts, these do not always translate into marketable products and services.

Read Also: NOTAP DG Warns Firms of Penalties for Failing to Register Technology Transfer Agreements

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