Nigeria has moved a step closer to rolling out its Nigeria Startup Bill (NSB), aimed at deepening the country’s technology ecosystem and enabling the sector.
The Presidency and leaders of the Nigerian technology industry have worked on the bill, which has now been approved by the Federal Executive Council and is being sent to the National Assembly by President Muhammadu Buhari.
The NSB aims to create an enabling environment for Nigerian startups to thrive, and the legislation addresses challenges such as disruptive regulation, weak infrastructure and difficulties accessing capital, particularly for non-fintech businesses.
The Bill has come about through close collaboration between the Presidency, the Federal Ministry of Communications and Digital Economy, the Nigerian Export and Promotion Council and wider government bodies, with almost 300 volunteers and private sector players participating, including VC firms Future Africa and Ventures Platform.
“The NSB is one among a series of key activities the Presidency is using to drive the building 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.
