The federal government says it is in the process of launching a centralized platform for Nigerians to register trademarks, patents and designs.
President Muhammadu Buhari who made the disclosure at the 17th Abuja International Trade Fair organised by the Abuja Chamber of Commerce and Industry (ACCI) yesterday, said this was to fully digitise existing records and automate the registration process to enable ownership and commercialisation of innovation.
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Represented by the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, Buhari said the event provided an opportunity to change the narrative of what MSMEs were and demonstrate how innovative they could be.
He said MSMEs could achieve their full potential with developed strategic policy interventions, enshrined laws and established institutions to create a supportive business environment for entrepreneurs.
Buhari said, “The MSME segment is critical to the stimulation of economic development. Nigeria is estimated to be home to over 40 million MSMEs which, together, contribute about 48 per cent of our GDP. Many of us just see MSMEs as the mama that fries akara or the friendly malam that owns the kiosk on our street. That is not the case; some of the fastest growing Fintech start-ups in Africa are in fact MSMEs. This trade fair provides an opportunity to change the narrative of what MSMEs are and demonstrate how innovative they can be.”
The President of ACCI, Dr Al-Mujtaba Abubakar, said the fair would strengthen trade and investment opportunities in the country.
