The Federal Government has reaffirmed its commitment to protecting intellectual property rights with the revalidation of the National Intellectual Property Policy and Strategy Paper.
Director of Press and Public Relations at the Federal Ministry of Industry, Trade and Investment, Dr. Adebayo Thomas, said in a press statement that the initiative is spearheaded by the Federal Ministry of Industry, Trade and Investment and the Ministry of Culture and Creative Economy, in collaboration with the Federal Ministry of Justice and the Ministry of Health and Social Welfare.
He said it aims to produce a comprehensive policy document that will safeguard the intellectual assets of Nigerians.
He quoted the Minister of Industry, Trade and Investment, Dr. Doris Anite, emphasising the importance of this revalidation during her opening remarks at the one-day workshop.
Anite said, “Although the document was finalized in 2022, revalidation is necessary to address grey areas and incorporate emerging trends in property rights, aligning with global best practices.
“Having an intellectual property policy is crucial for Nigeria’s economic growth and development.
“It provides direction on ownership rights to original inventions, innovations, and creative works, mitigating financial risks and maximizing the benefits of commercialisation.”
The minister assured that the current administration, under President Bola Ahmed Tinubu, is dedicated to upholding the intellectual property rights of Nigerians.
In her address, the Minister of Culture and Creative Economy, Hannatu Musawa, highlighted the timeliness of the revalidation and the subsequent launch of the new policy.
She said: “Nigeria is globally recognised for its intellectual prowess across various fields.
“It is imperative to establish a solid national intellectual property policy to protect our innovations.
“From new medicines and seeds to industrial processes, music compositions, and literary works, these pillars of society enrich our existence.
“Our culture, traditions, food, and produce need protection and marketing, which requires robust policy support.”
The Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Ambassador Nura Rimi, praised the stakeholders for their dedication to developing a revitalised policy framework.
He said: “This innovative policy will address issues of piracy and intellectual property theft.
“It is essential for Nigeria to have a comprehensive and effective policy to protect and promote our intellectual assets.”
The workshop aims to validate the review conducted by inter-ministerial committees established by the Ministers of Industry, Trade and Investment, and Culture and Creative Economy.
The final document will be presented to the Federal Executive Council for approval.
Development partners at the workshop’s opening session unanimously agreed that Nigeria, as a key global player known for its talent, requires a formidable intellectual property protection policy that stands the test of time.
The new policy document is expected to be launched in the third week of October.
