NOTAP Saved N79bn In Four Years

The National Office for Technology Acquisition and Promotion (NOTAP) has said it 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 said this on Thursday in Abuja said the amount, which would have gone out of the country was saved through the monitoring of 283 companies in his first tenure, from 2015 to 2018.

Ibrahim said the agency within the period, received a total 1,190 Technology Transfer Agreements (TTA) and registered 1,050, representing 88.24 percent. He also announced that President Muhammadu Buhari had approved his second term for the next four years.

He said the appointment would enable him consolidate on the achievements by completing to logical conclusion some of the projects he embarked upon that were at various stages of completion. Ibrahim said the revenue generation from its activities within the period under review also increased by over 50 percent, from N322,138 in 2015 to N489.212 in 2018.

He added that the agency embarked on automation of Technology Transfer Registration Process (TTRP) in 2017 and that as part of efforts to reduce man power and time wastage in TTRP, he said the process had reached 90 percent 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,” Ibrahim said.

He cited some of his new plans for the agency in the next four years to include the construction of NOTAP headquarters, commercialization of five flagship projects presented to the Bank of Industry (BoI) for funding, encouraging more companies to participate in NOTAP-Industry Partnerships and establishment and the commissioning of more Intellectual property.