The National Office for Technology Acquisition and Promotion (NOTAP) has revealed that its refusal to approve importation of foreign technology has saved the country about N265 billion. 

The DG NOTAP, Mohammed Ibrahim, represented by Adamu Tandama, head of consultancy services, shared the information with the permanent secretary of the Federal Ministry of Science and Technology, Edet Akpan, at the agency’s headquarters in Abuja on Monday.

The N265 billion, termed “capital flight”, was said to have been saved by the Federal Government between 2012-2019.

Mr. Tandama said this was to allow for the participation of indigenous technologists, as technology transfer agreements between Nigerian and foreigners were drafted in a manner that prevented local technologists from benefiting.

Mr. Akpan stated that it is imperative that the agency reduce the inflow of foreign technology imports, as the ministry would strive to encourage a technology friendly environment.

Last year, the agency announced that it saved N79.3 billion for Nigeria by enforcing a pricing guideline which ensured that ministries, parastatals and  commercial firms got clearance from NOTAP before signing  technology purchase agreements with foreign firms.