IP As A Tool For Economic Growth In Nigeria

Over the years, concrete efforts have been made to develop Nigeria's indigenous IP regime. The earliest attempt at developing Nigeria's IP dates to post-independence Nigeria. However, these various attempts have not been fruitful as Nigeria has failed to fully exploit the benefits that could be accrued from proper management and protection of Intellectual Property Rights in the country. The current economic and trade conditions in the world is susceptible to change, therefore requiring constant improvement to ensure economic development. These conditions will stimulate innovation and improvements in Nigeria's technology, designs, and other tangible and intangible assets. It will also create incentives for Nigerians to invent continuously by providing some form of compensation and guarantee that innovations will be credited to the true inventors. This can only be achievable through the promotion of intellectual property rights and provisions of competent IP policies to