"> How we saved over N70bn in four years - NOTAP - Sahel Standard
February 26, 2020
Business News

How we saved over N70bn in four years – NOTAP


By Idowu Isamotu, Abuja

The National Office for Technology Acquisition and Promotion (NOTAP) on Thursday said it has saved the sum of N79.69 billion in the last four years from capital flight.


The Director-General of the agency, Dr. Danzumi Ibrahim, who announced this at a press conference in Abuja, said the amount, which would have gone out of the country was saved through the monitoring of 283 companies between 2015 to 2018 of his first tenure.


Ibrahim also said that, within the period, the total number of Technology Transfer  Agreements, TTA received  was 1,190 registered  1,050, representing 88.24%. 
The NOTAP boss used the medium to inform Nigerians that President Muhammadu Buhari had approved his second term for the next four years.


The appointment he said, would enable  him to consolidate on the achievements by completing to logical conclusion some of the projects he embarked upon that were at various stages of completion.


He also said the renewal of his tenure would energise him to come out with new guidelines that would reposition the agency to priority development of local technologies and end capital flight.


In terms of revenue generation, Dr. Ibrahim, said the revenue generation from its activities within the period under review also increased by over 50%, from N322,138 in 2015 to N489.212 in 2018.


In order to improve on its services, he informed that the agency embarked on automation of Technology Transfer Registration Process in 2017.


As part of efforts to reduce man power and time wastage in TTRP, he said the process had reached 90% completion and would commence full automation by 2020.


“In order to improve on our efficient services delivery in line with improving Ease of Doing Business in Nigeria, NOTAP  embarked on the automation of Technology Transfer Registration Process in 2017.


“Apart from  drastically reducing  the time to register agreements with NOTAP, clients have the opportunity to track their applications and quickly respond to any query that might be by NOTAP after evaluating the agreements,” he noted.


He further listed establishment of NOTAP-Industry Partnerhip and NOTAP-Industry Technology Transfer Fellowship, upgrade of Chemical Laboratories and establishment and Commissoning of Intellectual Property and Technology Transfer Offices in Universities, Polytechnics and Research  establishments across the country.


The DG also used the opportunity to reel out some of his new plans for the agency in the next four years.They include: Construction of NOTAP Headquarters; commercialization of the remaining five Flagship projects presented to Bank of Industry for funding; encourage more companies to participate in NOTAP-Industry  Partnerships and establishment and Commissoning of more Intellectual Property; technology Transfer Offices across the country and development of robust data base of Nigerian professionals in line with Executive Order No. 5.

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