The Federal Government has reaffirmed its commitment to harnessing intellectual property (IP) as a strategic tool for economic diversification, innovation growth and national development.
The Honourable Minister of Innovation, Science and Technology, Dr. Kingsley Tochukwu Udeh, SAN stated this in Abuja while receiving a delegation from the World Intellectual Property Organization (WIPO) led by its Director, Mr. Oluwatobi Moody.
Dr. Udeh noted that intellectual property rights protect creative ideas and enable innovators to commercially exploit their inventions. He added that stronger collaboration with WIPO will further promote innovation and technology advancement in Nigeria.
The Minister reaffirmed the Ministry’s commitment to the commercialization of research outputs in line with the Renewed Hope Agenda of Bola Ahmed Tinubu, noting that translating research into marketable products will enhance job creation and reduce poverty.
He further emphasized that the Federal Ministry of Innovation, Science and Technology remains the government’s lead institution for driving scientific research, technological advancement and innovation policies aimed at accelerating industrial growth and strengthening Nigeria’s knowledge-based economy.
Earlier, Mr. Oluwatobi Moody said the visit was aimed at strengthening cooperation between WIPO and the Ministry to support innovators and expand the use of intellectual property for economic development.
He also commended the Ministry’s renewed focus on research commercialization and innovation-driven development, noting that Nigeria has significant potential to leverage intellectual property as a catalyst for sustainable economic growth.
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