Abuja — Minister of Commerce and Industry, Chief Achike Udenwa has said the development of intellectual property rights would accelerate Nigeria's trade and commerce.

Udenwa stated this in Lagos on yesterday at the opening ceremony of a sensitization workshop on industrial property rights, organized by the Ministry.

He said the nation could only compete globally, if it develops structures and institutional frameworks that would enhance the development of industrial property rights.

According to him, developed countries had long discovered the importance of the right as a major source of revenue and catalyst to economic growth. "Just like other areas, it had been neglected here in Nigeria for so long because of the concentration on oil resources," the Minister said.

He said it is only through effective administration and enforcement of industrial property rights that innovators and investors are assured of their investments, saying it would spur research and development.

The Minister said the government was determined to support the initiative by providing favourable environment for it to prosper.

Udenwa said the government had started looking into the establishment of an autonomous institution and an industrial property commission for it to take off.

Also, the Registrar, Trademark, Patent and Design Department, Mrs. Jamila Ahmadu-Suka, said intellectual property was the bedrock of industrialization and heart of capitalization. "Without inventions, innovations and industrial designs, there cannot be progress and development in the industrialization and commerce", he said.

He said in spite of the long existence of the department, the IP system had not developed much in Nigeria. "The department has not been able to meet with the fast pace of technological development in the world and because of this, Nigeria is being left behind in the global arena of fast developing IP systems," she said.

The Permanent Secretary in the Ministry, Dr. Abubakar Muhammad, said the forum was the first in a series of seminars that would cover the six-geopolitical zones of the country.

He said the aim was to deepen intellectual property knowledge and awareness and encourage entrepreneurs to take advantage of IP system to protect their rights

Mohammad added that the forum was part of the strategic plan by the Ministry to give the country a competitive edge in production and in mobilizing local and foreign investments through intellectual property rights two