The Ministry of Industry, Trade and Investment at the weekend inaugurated the Inter-Ministerial Committee on the Review of the Intellectual Property (IP) Policy and Strategy for Nigeria, marking a crucial step in strengthening Nigeria’s intellectual property framework.
The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, presided over the ceremony, highlighting the importance of a robust IP policy in driving innovation and economic growth.
She stated: “This is a significant milestone in our collective efforts to strengthen Nigeria’s intellectual property ecosystem and position our nation as a global leader in the protection and commercialization of creative and innovative works. An effective IP framework empowers our entrepreneurs, inventors, artists, and businesses to reap the full rewards of their creativity and ingenuity.”
Also co-chairing the event was the Minister of Arts, Culture, and Creative Economy, Hannatu Musa Musawa, who emphasised the interconnectedness of intellectual property and the creative industries. She remarked: “The arts and culture sector is deeply intertwined with intellectual property. By strengthening our IP framework, we are not only protecting our cultural heritage but also encouraging the creation of new, innovative works that can compete on the global stage. This initiative will significantly contribute to the growth and sustainability of our creative economy.”
In attendance was Senator Ben Murray Bruce, CEO and Founder of Silverbird Entertainment, who underscored the importance of intellectual property in the entertainment industry. He said, “A strong IP policy is vital for the protection of our creative industries. It ensures that our artists and creators can fully benefit from their hard work and creativity. This policy will help Nigeria become a global powerhouse in entertainment and innovation.”
Nigeria’s draft National IP Policy and Strategy, validated in September 2022, aims to promote a comprehensive and conducive IP ecosystem with a vision to utilize intellectual property for sustainable national prosperity and development.
Some key objectives of the policy includes strengthening the legal framework for IP rights protection, enhancing the institutional framework for IP administration and management and promoting the generation and protection of IP rights.
Others include facilitating the commercial exploitation of IP assets and technology transfer, strengthening enforcement frameworks for IP rights, developing human resources for IP administration, protection, commercialization, and enforcement and promoting IP training, education, and awareness.
The committee’s task is to update the Draft IP Policy & Strategy for submission to the Federal Executive Council for approval and to review and update national IP legislation in conformity with international obligations. The goal is to give Nigeria’s IP assets a competitive advantage in the market, attract investments, drive industrialization, and generate revenue for the Federal Government.
