To regulate how startups and regulatory authorities operate and cooperate in the multibillion-dollar tech ecosystem, the Nigerian presidency introduced the Nigeria Startup Bill last May in partnership with a number of government agencies and a group of Nigerian tech executives.
President Muhammadu Buhari has officially signed that bill into law. Isa Pantami, the nation’s minister of Communications & Digital Economy, tweeted about this information. He added that his office and the nation’s Office of the Chief of Staff were responsible for initiating the bill, currently known as the Nigeria Start-up Act.
The Nigeria Startup Bill will take into account 9 provisions to maximize the potential of the Nigerian Ecosystem in which “Training, Capacity Building, and Development” is one of them.
According to the bill, the six methods to achieve training, capacity building, and development include:
1. The Bill makes provisions for training and developing talents within the ecosystem by Designing and implementing a training and capacity-building program for start-ups
2. Using the startup portal to convey important information
3. Developing modules, and seminars. and workshops with the National Universities Commission. Universities and Polytechnics in Nigeria to impact the knowledge essential for establishing and running a startup in Nigeria.
4. Digital technology acquisition centers across Nigeria’s six geopolitical zones to promote digital technology usage. Managerial competency, and information systems.
5. Issuing a framework for talent development, and collaborating with relevant agencies and the private sector to establish parks and hubs for digital technology innovation in universities. Polytechnics, and other institutions of higher learning
6. Supporting the activities of an academic research institution to the development of a startup.
Without a doubt, Nigeria’s startup ecosystem has expanded significantly over time and is quickly emerging as a major player both within and outside of Africa. As a result, the Federal Government had to control this increase.
The National Information Technology Development Agency (Secretariat of the Council), in accordance with the provisions of the Bill, should establish and carry out a training and capacity-building program for startups.
Also, by partnering with organizations and Nigerian tertiary institutions to create workshops, programs, and modules to train young students in the creation, development, and management of profitable startups, the startup bill will achieve progress.
Furthermore, to encourage the use of digital technology, improve information systems, and build digital technology management capacity, the secretariat should also construct centers for the acquisition of digital technology in each of Nigeria’s six geopolitical zones, this is a needed development that will accelerate the Nigeria Startup Bill.
For the aforementioned provision in the startup bill to be achieved, these are what the federal government should put into consideration.
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