The Nigeria Startup Bill, which happens to be the first joint initiative between the Nigerian presidency and the Nigerian tech ecosystem, aims to harness the potential of the country’s digital economy by providing startups with regulatory clarity, improved access to capital, and an enabling environment to support their growth and scalability.
The Bill, which began drafting in July 2021, is a collection of inputs from several members of the ecosystem and government through a series of townhall meetings, webinars, and rallies. During the virtual Nigeria Startup Bill National Stakeholders Roundtable, a Pre-Summit event of the 27th Nigerian Economic Summit, the Nigerian Minister of Communications and Digital Economy, Prof Isa Ali Ibrahim Pantami gave a keynote speech where he addressed the Bill. In his presentation, the Minister, Prof. Pantami started by praising the efforts of the Nigerian Economic Summit Group for consistently generating opportunities for public-private sector dialogues on economic growth.
He went ahead to stress the relevance of startups to Nigeria’s economic progress and the globe at large, and also noted that the Nigeria Startup Bill is a step in the right direction towards encouraging Nigerian entrepreneurs to develop and flourish.
Meanwhile, support for the Bill has continued to gain traction. Last week, young people held rallies across the country showing support for the bill. Key stakeholders from the presidency and tech ecosystem are hoping the bill will get passed into law before the year runs out.
Credit: DISTRUPT AFRICA