Breaking News

FG, EU Seek Legal Framework For Products From Nigeria

The federal government in collaboration with the European Union is intensifying campaign for a framework for specially made products from Nigeria so as to boost export earnings for the country.

Speaking on Thursday at the national conference on creation of legal and institutional framework for Geographical Indications, the Minister of Industry, Trade and Investment, Niyi Adebayo commended the European Union for funding the Intellectual Property Rights and Innovation in Africa (AfriPi project).

A Geographical Indication is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin.

In addition, the qualities, characteristics or reputation of the product should be essentially due to the place of origin.

The minister said the AfriPI project has gone a long way in supporting African companies, creators and inventors to generate value from their intellectual property.

He said, “For many years, stakeholders from both the public and private sector in Nigeria have worked hard to promote and draw attention to geographical indications and other forms of intellectual property protection in Nigeria.

“The benefits obtainable from geographical indications in Nigeria are immense. Nigeria is one of the most culturally diverse societies in the world. We can boast of a wide variety of products that can be classified as GI.

“This ranges from the popular Ijebu garri, to Nsukka yellow pepper, the Sokoto red skin goat and the famous Yauri onions.

“Unfortunately, poor knowledge of Geographical Indications and the absence of a specific legal framework has rendered our unique products more vulnerable to misappropriation”.

Adebayo explained that Nigeria has a strategic ambition to position itself as a major supply chain partner to key off-taker nations.

He added that Geographical Indication will play a major role in helping Nigerian producers generate greater value for their products.

“Agri-food and drink products which have names that are protected by the European Union as Geographical Indications represent a sales value of about €75bn.

“Currently over one fifth of this amount is generated by exports that originate outside of the European Union.

“This presents a huge opportunity for indigenous exporters who can now capitalize on improved product reputation and the willingness of consumers to pay a premium for authentic products,” he added.

About Editor

Check Also

Ferrari does not need to buy other supercar makers, CEO says

Ferrari (RACE.MI) has no plans to purchase other sports car makers, the company’s Chief Executive …

Leave a Reply