The Federal Government has set up an Inter-Ministerial Committee to overhaul Nigeria’s Intellectual Property (IP) Policy and Strategy.
This initiative is expected to fortify IP rights protection, spur investment, drive industrialization and help boost government revenue.
The committee’s key objective is to update the Draft IP Policy and Strategy for submission to the Federal Executive Council. It will also revise national IP laws to align with international standards, giving Nigeria a competitive edge in the global market.
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At the inauguration, a government representative emphasized the significance of a robust IP ecosystem for national development. She noted that an effective IP framework empowers entrepreneurs, inventors, artists, and businesses to fully benefit from their creations.
Hannatu Musa Musawa, Minister of Arts, Culture, and Creative Economy, highlighted the pivotal role of IP in the creative industries, emphasizing its contribution to economic growth and sustainability.
Ben Murray Bruce, CEO of Silverbird Entertainment, stressed the importance of strong IP policies for the entertainment sector, stating that they elevate Nigeria’s position in global entertainment and innovation.
The government’s efforts to enhance the IP framework are expected to bolster the creative economy and various IP-dependent sectors, positioning Nigeria as a global hub for innovation and creativity.
