This document discusses intellectual property (IP) and patents as tools for economic development in Nigeria. It provides an overview of IP, examples of patents, and the benefits patents can provide to Nigeria's economy through incentives for innovation and foreign investment. However, Nigeria currently has weak IP protections which hamper these benefits. The document recommends harmonizing IP laws, increasing awareness of IP, encouraging IP-backed financing, and creating an online IP marketplace to help Nigeria better utilize patents and IP for economic growth.