The National Office for Technology Acquisition and Promotion (NOTAP) has reformed its operations by raising the level of flexibility involved for private sectors players, who come to it for sealing their technology transfer agreements.
The agency said the move was sequel to the formation of the Presidential Enabling Business Environment Council (PEBEC) by President Muhammadu Buhari to remove obstacles witnessed while doing business in Nigeria.
NOTAP has, therefore, organised a one-day interactive session in Lagos for its private sector ‘clients’ in order to intimate the clients on the reform measures and activities of NOTAP in line with its mandates to analyse and register technology transfer agreements to facilitate the ease of doing business.
Speaking at the interactive session, the Director General of NOTAP, Dr. DanAzumi Ibrahim, said in a bid to enhance its service delivery to clients and further sustain engagement, NOTAP started a working relationship with the Technical Committee of the Enabling Business Environment Secretariat.
According to him, NOTAP has successfully implemented a number of reform initiatives, adding that some of the reform initiatives were started before the establishment of PEBEC in line with feedbacks from NOTAP clients.
“Today’s interactive session is one of the outcomes of the reform initiatives. It is intended to provide a forum for the office to interact with its esteemed clients and intimate them with the various reform initiatives and the stage of implementation to make the registration of technology transfer agreement faster,” he said.
He stated that in consideration of the importance of NOTAP to national development, especially as it affects the registration of technology transfer agreements, the office did not have any alternative than to comply with the presidential directive that will fast-track the ease of doing business in Nigeria.
He said that the initiative will also enhance the World Bank ranking of the country among the comity of nations.
The NOTAP boss said registration of technology transfer agreements was a technical and tedious job and needs painstaking efforts in order to ensure that Nigerian entrepreneurs are not constantly cheated by their technical partners.
He explained that in line with NOTAP Act, all technology transfer agreements taking effect in Nigeria should be registered in NOTAP before they can approach the Central Bank of Nigeria (CBN) through commercial banks.
to obtain foreign currency for remittance of technology transfer fees.
The DG, however, said Nigerian entrepreneurs entered into technology transfer agreements with their technical partners before coming to NOTAP, whereas they should have brought the draft agreements to NOTAP for technical advice before signing the agreements.
Telecoms’ GDP leaps to 1.8% growth
From a decline of -3.28 per cent in the fourth quarter of 2017, Gross Domestic Product (GDP) growth rate in Nigeria’s telecommunications sub-sector jumped to 1.8 per cent in the first quarter of this year, New Telegraph has learnt.
This, according to latest data from the National Bureau of Statistics (NBS), shows a general improvement in the Information and Communication sector.
The telecoms and information services, which come under the Information and Communication sector in the NBS’ categorisation of economic activities, had in the last three quarters recorded negative growth rate as it fell by 1.9 per cent in second quarter 2017. In the third quarter of same year, it also went down by -5.68 per cent. By fourth quarter, the sector still went down by -3.28, even at the time when the overall GDP growth rate of the country looked positive.
However, the telecoms sector has shown remarkable signs of growth since the beginning of this year as subscriber data continue to surge.
Analysis of active mobile subscriptions in the first three months of the year shows that the telecom operators added 4.2 million subscribers within the period. Data subscriptions on the four GSM networks also crossed the 100 million mark in January and have maintained a steady growth.
The Information and Communication sector is composed of the four activities of Telecommunications and Information Services; Publishing; Motion Picture, Sound Recording and Music Production and Broadcasting. In nominal terms, the first quarter of 2018 saw the sector grow by 1.79 per cent (year-on-year) , a 7.25 per cent points decrease from the rate of 9.04 per cent recorded in the same quarter of 2017. However, it is 2.34 per cent points higher than rate recorded in the preceding quarter. The quarter-on-quarter growth rate was 3.58 per cent. The Information and Communications sector contributed 10.64 per cent to total Nominal GDP in the 2018 first quarter, lower than the rate of 11.43 per cent recorded in the same quarter of 2017 but higher than the 10.04 per cent it contributed in the preceding quarter.
The sector, in the first quarter of 2018, recorded a growth rate of 1.58 per cent in real terms, year-on-year. From the rate recorded in the corresponding period of 2017, there was a decline by 1.15 per cent points. Quarter on quarter, the sector exhibited a growth of –4.15 per cent in real terms. Of total real GDP, the sector contributed 12.41 per cent in 2018 first quarter, lower than in the same quarter of the previous year in which it represented 12.46 per cent but higher than the preceding quarter, in which it represented 11.35 per cent.
Analysts see the growth rate as a positive sign of more economic activities in the sector, leading to job creations and increased contribution to the economy.
Citing the NBS statistics, Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof. Umar Danbatta recently disclosed that the telecoms sector in the first quarter of 2017 contributed N1.45 trillion to the GDP, adding that in the second quarter, the figure rose to N1.549 trillion.
“This performance at a period of recession is very remarkable,” he said. “We are keeping dates with the NBS to identify and track how these trends progress. On the aggregate, the telecoms industry’s contribution to GDP in Nigeria stands at 10 per cent.
“But the figures may not tell the entire story. Investments in the sector, in human and material resources, have continued to soar. In 2001, the telecom sector could boast of a mere $50 million worth of investments but as at September 2017, we have investments worth $70 billion. The Value Added Services (VAS), segment of the telecom market in Nigeria today is worth $200 million and is estimated to grow to $500 million by 2021. The industry has provided both direct and indirect employment opportunities, accentuated growth and expansion.”
Reps probe Pencom over alleged financial mismanagement
The House of Representatives has resolved to investigate the National Pension Commission (PENCOM) over alleged reckless financial management of retirees’ funds and infraction on the public procurement Law. The House has consequently mandated its committee on public procurement and pensions to carry out a comprehensive investigation on alleged monumental fraud ongoing at the commission.
The decision followed the passage of a motion sponsored by Hon. Zakariya Galadima on the “need to investigate the alleged violation of provisions of the public procurement Act and financial mismanagement by the National Pension Commission (PENCOM)” During debate, the legislators faulted the commission over several financial infractions as against the principles and objectives of the provisions of the Pension Reform Act, which required the commission to collect and utilize fees, levies and penalties prudently in accordance with its regulatory and compliance roles. For instance, part of the 2014 Act authorizes PENCOM to invest the retiree funds in order to generate revenue but the lawmakers are worried that such investments powers of the agency have been grossly eroded by financial abuses.
In his lead debate, Galadima faulted the agency over several financial mismanagement while expressing worry that PENCOM engaged in fraudulent practice by investing N1billion into Aso Savings and Loans Plc under its investments portfolio at a ridiculously low interest rates and further directed Aso to lend the money to MGSL Mortgage Bank Limited where a top PENCOM management staff has interest.
Confectionery firm hosts BBNaija ex-housemates
Infusion Cakes & Cafe, a Lagos-based confectionery firm, has hosted ex-housemates of the reality TV show, Big Brother Nigeria (BBNaija), in a meet and greet session in Lagos recently.
Founder and chief executive of Infusion Cakes & Cafe, Mrs. Ibigbeye Okobi, in a statement, said the company decided to host the BBNaija ex-housemates because: “We really enjoyed the free spirit they exhibited, how natural they were and how they were able to get Nigerians to actually get engaged in everything they did while in the house.”
Okobi said the management of Infusion Cakes & Cafe also felt that the location of the company in the highbrow Lekki area of Lagos would serve as an excellent platform for Nigerians who were keen to meet the ex-housemates, get to know and interact with them in a friendly and hospitable environment to really appreciate them.
Infusion Cakes & Cafe is a modern bakery and cafe where customers can get a combination of international and locally made cakes, coffee, pastries and desserts for refreshment, weddings and special occasions like birthdays and anniversaries, among others.
The highlight of the event was a competition for the decoration of cakes. Participants in the competition included the reigning Miss Nigeria, Miss Mildred Peace Ehiguese; one of the BBNaija ex-housemates, Anto; and a representative of Team Definition, a band of musical artistes which entertained guests at the session.
News16 hours ago
Deputy Speaker, Lasun Yusuff, in N1.1bn water contract scam
Politics15 hours ago
We expect NWC’s intervention in Lagos APC crisis – Oki
Metro and Crime16 hours ago
Offa robbery suspect not from our town –Community
News15 hours ago
FG: Wike is abusing immunity
Metro and Crime16 hours ago
Cultist kills rival, sells palms for N5,000
News16 hours ago
A helping hand to a poor community
Politics17 hours ago
NIM adopts ADP candidate for guber poll
Health15 hours ago
Side effects, barrier to family planning