Abstract
Emerging technologies are the driving force behind developed and developing economies as they play crucial role in economic and social activities. Any country with aspiration for growth must embrace the ever evolving technologies, as they constitute the core of the world economy. Nigeria is endowed with abundant human and natural resources, but like other developing countries still relies heavily on transfer of technology from advanced countries for her development. Although in a bid to explore and engage in technological development the National Office of Technology Acquisition and Promotion (NOTAP) was established to regulate and administer the licensing and transfer of technology. Nevertheless, there are technological deficit in Nigeria. What are responsible for these situations? The paper examined the legal and institutional regimes for licensing in respect of technological transfer in Nigeria. It was found that one of the challenges of technology transfers is poor investment in research and development projects – funding for research and development projects aren inadequate even for government institutions. It was recommended that provision of standard infrastructures for technological research and development –this would encourage researchers as the amenities available thereat would make it easy for them to carry out their research which would aid creativity and productivity.
Keywords: Technology, Development, Licensing, Transfer and IPRs