The Nigeria Startup Bill has reached the National Assembly and has been received by the Nigerian Senate.

The bill was accompanied by a letter from the Presidency, dated the 21st February 2022. Which explained that the Startup bill seeks to position the country’s startup ecosystem and to establish a National Council for Digital Innovation and Entrepreneurship.

A part of the letter reads thus; “The Nigeria Startup Bill, 2021 aims to position Nigeria’s Startup ecosystem as the leading digital technology centre in Africa, having excellent innovators with cutting edge skills and exportable capacity, in order to do this, the Bill seeks to establish a National Council for Digital Innovation and Entrepreneurship.”

“While hoping that this submission will receive the usual expeditious consideration of the Senate, please accept, Distinguished Senate President, the assurances of my best regards.”

The bill, as signed by the President, is aimed at providing a structured regulatory framework for startups. This is to enable them to work within the confines of the law with no uncertainty as to their future in the Nigerian tech terrain.

The bill also aims at improving investor confidence in Nigerian Startups and providing the infrastructure needed for startups to thrive in Nigeria.

Another major aim of the bill is to promote local content and amplify Nigeria’s startups to the global stage, allowing them to compete globally and increase their customer and revenue base.

Many tech professionals and other stakeholders within the country have worked on the bill in an all-inclusive approach. And are hopeful that the bill will be passed and engender the growth and development that the startup ecosystem in Nigeria needs.

The Senate and the House of Assembly will deliberate on the Bill and work towards its passage.

To gain more insights into the contents of the bill, you can start here.

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