The Nigerian Institution of Estate Surveyors and Valuers’ (NIESV), Business Assets, and Intellectual Property Valuation Division has urged the Federal Government of Nigeria to look into the creation of an intellectual property center in the country.
The division’s chairman, Olalekan Akinwunmi, made the call last week in Lagos on World Intellectual Property Day 2022, according to a statement.
The topic of IP Day, according to the announcement, was “IP and Youth: Innovating for a Better Future.”
Every year on April 26th, Intellectual Property Rights Day is commemorated. All member states of the World Intellectual Property Organization take advantage of the opportunity to examine the economic role of Intellectual Property (IP), while also encouraging innovation, creativity, and appropriate policies that ensure that inventors and creators are fairly compensated for their efforts.
This year’s campaign, according to Akinwunmi, was an eye-opener for young people in terms of realizing their potential and understanding how the IP system’s capabilities could help them achieve their goals in the future.
Trademarks, design rights, copyright, patents, plant variety rights, geographical indications, and commercial secrets were among the IP system’s tools, according to Akinwunmi.
Akinwunmi, who also serves on the board of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), believes it is critical to focus on the youth because they bring new perspectives, energy, curiosity, a “can-do” attitude, and a desire for a better future. Youth were already rewriting narratives and driving action for innovation and change, according to him.
“We ask the Federal Government to construct IP hubs aimed at the youth,” he said. As a country, we must promote our youths at all levels by enacting laws that guarantee their rights. As a result, through innovation, direct foreign investment would be attracted.
“The value of the entertainment and creative industry is in the trillions of naira. The strategy of converting their discoveries and inventions into money is very important. That is where we become relevant; the valuation of this right is germane and it is a pointer that their future is bright because they could see value for their talents and works.”
