The Nigerian Copyright Commission, NCC has set in motion, a machinery to checkmate the booming copyright piracy market in the country.
Reports say that copyright piracy is said to cost Nigeria an annual loss estimated at billions of naira.
Despite the absence of a coordinated or official statistics to gauge the quantum of loss, NCC’s Director General John Asein said that as far back as 2019, Nigeria lost N918 Trillion Naira annually to digital piracy, stressing that the financial damages severely impact local businesses and innovation efforts.
The commission, in collaboration with the World Intellectual Property Organisation (WIPO), has started a project to develop strategies and tools to address the menace.
Speaking at a stakeholders’ meeting on the WIPO project to address online copyright piracy in Nigeria, Asein said digital technologies have unlocked tremendous opportunities for the creative and innovation sectors.
The NCC boss said technology also poses serious challenges, including online piracy, which he said is growing rapidly.