We halted N79.3bn foreign payments by MDAs, firms – NOTAP


The National Office for Technology Acquisition and Promotion on Wednesday announced that it saved N79.3bn for Nigeria by enforcing the technology transfer pricing guideline and insisting on the use of Nigerian professionals in most projects. Before Ministries, Departments and Agencies and commercial firms sign technology purchase agreements with foreign firms, they are required to get clearance from NOTAP. According to the agency, the savings would have exited Nigeria as capital flight to other nations if the country had not developed some of its own technologies and ensured the promotion of…

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