NOTAP – National Office of Technology Acquisition and Promotion

The National Office of Technology Acquisition and Promotion (NOTAP) regulates the transfer of foreign technology into Nigeria.

Every contract involving the transfer of technology must be registered with NOTAP within 60 days of its execution. In addition to the agreement, NOTAP will provide a list of documents to be submitted and fees to be paid for registration.

It is important to note that there are also requirements as to the content of such contracts. Therefore, when you have transactions in these categories, it is best that you find the ideal position before you commence negotiations. This will save you the headaches of amendments which are capable of frustrating your foreign partners or portraying you as ignorant or incompetent.

Furthermore, you will be able to commence the application process early enough in order to obtain the certificate required by the banks to facilitate the payments due. Failure to do this can delay your payment, even when you have the funds ready and further sour the relationship with your licensor or other foreign partners.

We will further breakdown Technology Transfer Agreements and their requirements in a future post.