The National Office for Technology Acquisition and Promotion (NOTAP) says about 70 per cent of multinational firms operating in Nigeria now comply with the country’s technology transfer regulations.
Director-General of NOTAP, Obiageli Amadiobi, disclosed this in Abuja during a press conference to announce the forthcoming NOTAP Technology and Innovation Summit 2025. She said the agency’s collaboration with the Central Bank of Nigeria has improved compliance among companies remitting funds abroad for technology services.
“Banks have been mandated to ensure that no company remits money for technology-related transactions without a certificate from NOTAP,” Amadiobi said. “However, some firms still hide their technologies in backend systems.”
The summit, scheduled for 6–7 November in Lagos, will focus on harnessing research and innovation within Nigeria’s science and technology ecosystem. It will feature policy discussions, innovation exhibitions, hackathons, and startup showcases.
Amadiobi criticised foreign firms for relying on imported technologies while using Nigerian raw materials, particularly in the palm oil sector. She said NOTAP would summon affected companies to establish research laboratories locally to reduce capital flight.
She added that NOTAP’s Local Vendor Policy had achieved 90 per cent success in the ICT sector and would soon expand to other industries.
Leave feedback about this