The National Office for Technology Acquisition and Promotion (NOTAP) is poised to collaborate with the Central Bank of Nigerian (CBN) to strengthen the Nigerian economy and safeguard the country’s foreign exchange (Forex).
Speaking while playing host to the Director, Trade and Exchange Department of the CBN, Dr. Musa Nakorji, the Director General and Chief Executive Officer of NOTAP, Dr. Obiageli Amadiobi said that the partnership is aimed at promoting technology acquisition, development and innovation in key sectors of the nation’s economy, and ultimately enhance the nation’s economic resilience and competitiveness.
She said that a strong partnership between NOTAP and CBN will promote technology transfer and acquisition in strategic sectors, such as manufacturing, agriculture, oil and gas as well as strengthen financial services. She noted that the country could no longer depend solely on oil, but should be pragmatic in diversifying her economy through technology and innovation, to ensure a sustainable national development.
In a statement made available by Raymond Onyenezi Ogbu of the Information unit, Dr. Amadiobi said that NOTAP was established in the early 70s to regulate the inflow of foreign technology through the registration of technology transfer agreements and also has the responsibility of encouraging the efficient development and domestication of locally motivated technologies.
The DG expressed delight in the visit, noting that it will avail the Central Bank of Nigeria the opportunity of having a deeper understanding of the critical role NOTAP is playing in strengthening the Nigerian economy and safeguarding the forex for local technology development. She stressed that the relationship will enhance the competiveness of Nigerian industries through innovation and technology adaptation.
Dr. Amadiobi emphasized the importance of strong tie among regulatory bodies especially with the apex bank of the country, noting that such relationship will foster the culture of innovation, strengthen entrepreneurship in Nigeria and also improve the nation’s foreign exchange earnings through improved export.
In his remarks, the Director of Trade and Exchange Department, Dr. Musa Nakorji said that the CBN is committed to ensuring the success of the collaboration with, NOTAP and other regulatory bodies. He added that it was his topmost belief that through strategic partnership, the two government agencies can harness the power of technology and innovation to drive economic growth, improve the lives of Nigerians, and position the nation as a major player in the global economy.
