Nigeria: Yearly Global Loss to Piracy, Counterfeiting Reaches N88 Trillion

24 July 2014

Hewlett Packard (HP) Nigeria has revealed that businesses worldwide lose in excess of $550 billion, about N88 trillion each year due to counterfeiting and piracy.

The company, which recently conducted a global research on intellectual property theft, said one in every ten information technology (IT) products and solutions sold is either counterfeit or pirated product.

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