NOTAP Saves N200b in 10 Years

  • NOTAP Saves N200b in 10 Years

The local vendor policy initiated by the National Office for Technology Acquisition and Promotion (NOTAP) has promoted the development of indigenous software, its Director-General, DanAzumi Ibrahim has said.

Speaking while receiving a seven-man delegation from the Defence Space Administration (DSA) who paid a visit to NOTAP Management in Abuja, he said NOTAP has, over the last 10 years, saved over N200 billion which would have been part of capital flight.

Ibrahim said the local vendor policy was borne out of the concern that over 90 per cent of software being utilised by Nigerians, especially in the banking and other financial sectors were imported.

He said through its mandate of registering technology transfer agreements, NOTAP made it mandatory for Local Vendors to be involved in all Annual Technical Support (ATS) services for Software Agreements or updates and the Local Vendor’s fee paid in naira by the licensor.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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