The Nigerian Startup Bill has been sent to the National Assembly for a vote
Nigeria has moved one step closer to enacting its Nigeria Startup Bill (NSB), which aims to strengthen the country’s technology ecosystem and enable the sector.
President Muhammadu Buhari has worked with the Presidency and leaders in the Nigerian technology industry on the bill, which has now been approved by the Federal Executive Council and is being sent to the National Assembly by President Buhari.
The NSB aims to create an enabling environment for Nigerian startups to thrive, and the legislation addresses issues such as disruptive regulation, inadequate infrastructure, and difficulty accessing capital, particularly for non-fintech businesses.
The Bill was developed in close collaboration between the Presidency, the Federal Ministry of Communications and Digital Economy, the Nigerian Export and Promotion Council, and other government bodies, with nearly 300 volunteers and private sector participants, including venture capital firms Future Africa and Ventures Platform.
“The NSB is one of a number of key activities being used by the Presidency to drive the creation of a more sustainable ecosystem for young people in Nigeria to thrive and scale,” said Oswald Osaretin Guobadia, senior special assistant to the President on Digital Transformation and the NSB Lead.
