The World Intellectual Property Organisation on Wednesday disclosed that Nigeria was yet to tap into over $73 trillion in intellectual revenue globally.
The Director, WIPO Nigeria, Olwatobiloba Moody, made this known to journalists at the Intellectual Property Programme in partnership with the National Youths Service Corps and managed by Hutzpa Consulting and Innovation Lab in Abuja.
Moody noted that Nigeria was losing financially because of its inability to capture intellectual property, hence the need to train youths especially corps members in IP in the FCT to help boost the country’s economy.
He said “Nigeria is losing because there is a huge creation of wealth in the space of intangible assets which the country is not fully tapping into. This is because we are not capturing this wealth through intellectual property such as the value of patents, copyrights, etc.
“The value of intellectual property is constantly on the rise. Globally in 2021, the…