Presidency, Stakeholders To Present Startup Bill In Q4
Nigeria’s first startup Bill is set to be before the National Assembly in October. The bill will provide Nigeria’s tech entrepreneurs with an environment that allows them pursue their ambition for the betterment of the larger Nigerian economy.
The Nigeria Startup Bill project is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to harness the potential of the country’s digital economy through co-created regulations.
In a blogpost, the NSB quoted the President, Major General Muhammadu Buhari (retd.) as saying, “Our young people are our most valuable natural resource, at home and abroad. Their ingenuity, creativity, innovation and entrepreneurial spirit is evident to all.
“We will partner with the legislature to develop an enabling environment to turn their passions into ideas that can be supported, groomed and scaled.”
According to the NBS, past occurrences in the tech space such as regulatory events that ended bike-hailing in Lagos, and suspended cryptocurrency transactions through banks in the country had informed the need to have a bill that ensured that the nation’s laws and regulations were friendly, clear, planned and worked for the tech ecosystem.
While the Nigeria Startup Bill project is a joint initiative between Nigeria’s tech ecosystem and the Presidency, it is being managed by the Ventures Platform Foundation and supervised by the Presidential Strategic Advisory Group composed of stakeholder representatives from the tech-startup ecosystem in Nigeria.