fbpx
Founder Institute Lagos Founder Institute Lagos Founder Institute Lagos
  • Home
  • About
  • Partners
  • Advertise
  • Contact
  • Signup to receive updates
Innovation | Startups | Funding | Tech Blog in Africa
Advertisement
  • Home
  • Startups
  • Hubs
  • Funding
  • WomenTech
  • CleanTech
  • Blockchain
No Result
View All Result
  • Home
  • Startups
  • Hubs
  • Funding
  • WomenTech
  • CleanTech
  • Blockchain
No Result
View All Result
Innovation | Startups | Funding | Tech Blog in Africa
No Result
View All Result
Home Startups West Africa

Nigeria becomes Fifth African Country to approve a Startup Bill

by Editor
2022/07/21
in West Africa
Startup bill - techbuild

Credits: StartupBillNg

Share on FacebookShare on Twitter
Tweet
Share
Share

The Senate recently passed the Nigeria startup bill after scaling through the third reading. The Bill will ensure that Nigeria’s laws and regulations are precise, well-thought-out, and supportive of the tech sector.

The ultimate objective is to help create an atmosphere that fosters growth and protects investments in tech start-ups.

The bill was first drafted in June 2021 to harmonize existing laws and regulations and incorporate legal framework input from influential ecosystem leaders (MDAs, States, and Networks).

Also read, A Review of Startup Acts Policy in Africa 

RelatedPosts

NCC Extends Hackathon Application for Talent Hunt Research (Sep 30)

Turaco acquires MicroEnsure Ghana to drive Insurance Inclusivity Across Africa

WhoGoHost acquires Cloud-based Communication Startup, SendChamp

Edtech Platform AltSchool Africa introduces Creative Economy and Business Faculty

The initial draft was then validated in July 2021 after being reviewed by ecosystem leaders and representatives and the Presidential Working Group, which is made up of MDA decision-makers who are crucial to putting the bill’s provisions into effect.

In August 2021, there was a public input and approval of the second draft of the bill with ecosystem stakeholders at the state level in all geopolitical zones, the Presidential Announcement and Town Hall meetings were held.

Also read, Federal Executive Council approves Nigeria Startup Bill

President Muhammadu Buhari authorized the passage of the Nigeria Startup Bill to the National Assembly in February 2022.

The Nigeria Startup Bill announced this on its Twitter handle to the delight of Nigeria’s startup and hubs ecosystem.

FYK9 NLWIAER3r

Nigeria joins Tunisia, Senegal, Ethiopia, and Kenya as the fifth African nation to pass the bill

What this means to Nigeria’s tech ecosystem

The Bill will give startups a defined regulatory framework so they can operate with confidence within the bounds of the law, which unquestionably comes at a critical time. Additionally, it might increase investor trust in the industry.

Also read, Why Nigeria needs a Startup Act

The bill also aims to support indigenous media and launch Nigerian start-ups into the worldwide tech and start-up scene, giving them access to the world marketplace and boosting their visibility, clientele, and income.

This bill will probably elevate Nigeria to the top spot in Africa for tech investments. This implies that hundreds of young entrepreneurs will receive capital to develop and scale their innovations and that young people will see significant increases in their incomes and job opportunities.


Don’t miss important articles during the week. Subscribe to techbuild weekly digest for updates

Join @techbuildafrica on Telegram
Tweet
Share
Share
ShareTweetShareSendShare

Subscribe us

Recent Posts

  • AfriLabs Annual Gathering 2023: Key Players set to Drive Africa’s Digital Economy
  • Unlocking Socio-Economic Progress: Early-Stage VC in South Africa
  • Young Nigerian Innovator? Apply for IMC Go-to-Talent Challenge ($10K)
  • NiRA announces Voting for the 2023 .NG Awards: Celebrating Excellence in Nigeria’s Digital Community
  • Anambra ICT Agency MD to Keynote Bossladylaw Business Challenge
  • Energy, AI and a Groovy New Tech Demo Area All on the Menu at Africa Tech Festival
  • Female Innovator? Apply for Africa Innovation Fellowship Program
  • Wikimedia Anambra Network sets to Mark a Year of Achievement and Awareness Campaign
  • IXPN, Medallion DC meet Stakeholders, discuss Internet Peering and Interconnectivity
  • Dr Krish crowns Technology Person of the Year at Tech Innovation Awards 2023
Innovation | Startups | Funding | Tech Blog in Africa

© 2013-2021 techbuild.africa. All Rights Reserved.

Navigate Site

  • About
  • Contact
  • WE-Forum
  • Privacy
  • Sitemap
  • Terms
  • Blockchain
  • CleanTech

Follow Us

No Result
View All Result
  • Home
  • Startups
  • Hubs
  • Funding
  • WomenTech
  • CleanTech
  • Blockchain

© 2013-2021 techbuild.africa. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In