LAUTECH to Cultivate Culture of Innovation and Intellectual Property for Wealth Creation

Vice Chancellor of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, Prof. Razaq Olatunde Rom Kalilu, has said students and staff of the University will henceforth be encouraged to cultivate a culture of creativity, innovation, and intellectual property consciousness as a pathway to wealth creation and sustainable development.

The Vice Chancellor spoke in Ogbomoso, at the 4th Occasional Lecture of the Faculty of Environmental Sciences of the University. 

Represented at the occasion by the Deputy Vie Chancellor (Academic and Innovation), Professor Dauda Araromi, Prof. Kalilu described universities as repositories of intellectual capital, noting that research outputs, innovations, software applications, designs, creative works, and inventions possess immense potential for wealth creation and societal advancement. He observed, however, that many innovations developed within Nigerian universities remain underutilized due to inadequate awareness of intellectual property rights and limited structures for commercialization.

He emphasized the need for stronger institutional support for intellectual property protection and commercialization, urging members of the university community to embrace innovation-driven thinking and transform ideas into valuable assets that can contribute meaningfully to national development.

Earlier in her opening remarks, Dean of the Faculty of Environmental Sciences, Prof. (Mrs.) Margaret Areo, underscored the importance of transforming creativity and innovation into economic value through patents, trademarks, and commercialization. She challenged participants to move beyond knowledge creation to value creation, stressing that intellectual property remains a vital tool for economic empowerment and sustainable growth.

The lecture, titled "Leveraging Intellectual Property for Wealth Creation in Nigerian Universities," was delivered by the Director-General of the Nigerian Copyright Commission, Dr. John O. Asein,

who highlighted the critical role of human capital development and intellectual property in wealth creation, urged universities, policymakers, and other stakeholders to harness the vast potential of Nigerian youths by converting innovative ideas into productive ventures capable of driving economic growth and national development.

The event brought together academics, researchers, students, and other stakeholders to explore practical strategies for maximizing the benefits of intellectual property within the university system and the broader society.

The lecture further reinforced the growing recognition of intellectual property as a catalyst for innovation, entrepreneurship, and economic transformation in Nigeria's higher education sector.