President Muhammadu Buhari and Mr. IIsa Pantami
By Adebayo Obajemu
The Minister of Communications and Digital Economy, Isa Pantami, has disclosed that President Muhammadu Buhari has signed the Nigeria Startup Bill into law.
He disclosed that the startup bill passed on July 20, 2022, was initiated by the executive arm and seeks to create an enabling environment for tech-based startups in Nigeria.
His Excellency, @MBuhari has just assented to Nigeria Start-up Bill. It has now become Nigeria Start-Up Act, 2022. It was an Executive Bill, initiated by both Office of the Chief of Staff & the Office of the Minister of Comms & Digital Economy. Congratulations to all!
— Prof. Isa Ali Pantami (@ProfIsaPantami) October 19, 2022
Pantami revealed that the law which holds huge benefits for the Nigerian economy, adopted an approach to allow startups to identify business challenges and voice them out.
Based on the provisions of the law, the Federal Government plans to set up a 10 billion naira fund for startups in the country.
Recall that last May, the Nigerian presidency launched the Nigeria Startup Bill in collaboration with a group of Nigerian tech leaders and several government bodies to govern how startups and regulatory bodies operate and collaborate in the multi-billion-dollar tech ecosystem.
Before its assent by the president the Nigeria Startup Act went through various readings since its draft was submitted to the presidency and the country’s Federal Executive Council (FEC) last October.
