LIVE UPDATES
The Federal Government on Monday said it is reviewing the country’s Intellectual Property Policy due to the need to empower creators, protect the country’s cultural heritage and drive innovation across the board.
The Minister of Arts, Culture and Creative Economy, Hannatu Musawa made this known in Abuja during an engagement with stakeholders alongside the Minister of Industry, Trade and Investment, Doris Uzoka-Anite.
Intellectual property popularly referred to as IP is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, copyrights, trademarks, and trade secrets.
While addressing the stakeholders, Musawa said President Bola Tinubu was keen on attracting investments across the board hence the need for a strong IP policy.
“ Let me assure you, that the administration of His Excellency, President Bola Ahmed Tinubu, GCFR, is focused on promoting and attracting investments and partnerships in and to Nigeria and is keen to create the right framework that encourages ease of doing business, serves the public interest and helps us attract investment into the cultural and creative sectors of the economy.
“The protection of intellectual property is essential for empowering our creators, safeguarding our cultural heritage, and driving innovation across every sector.”
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite said, “ Let me at this juncture reiterate that having an Intellectual Property Policy for Nigeria is crucial for the growth and development of the economy.
“Specifically, intellectual property statutes offer direction about ownership rights to original invention, innovation, or precious work, as well as the financial risks and benefits connected to any technology’s commercialization.”
