Nigerian startups bill and the regulatory framework, By Inyene Ibanga

A collective effort of Nigeria’s tech startup ecosystem and the Presidency for the advancement of the digital economy through co-created regulations, the NSB aims to ensure that laws and regulations are friendly, clear, planned, and work for the tech ecosystem.

The Nigeria Startup Bill project is managed by the Ventures Platform Foundation and supervised by the Presidential Strategic Advisory Group comprising stakeholder representatives from the public sector and tech-startup ecosystem in Nigeria. Since the commencement of the drafting process of the NSB in July, the Bill has received a collection of inputs from several members of the tech ecosystem and government through a series of town hall meetings, webinars, and rallies.

Notable provisions of the draft legislation include the creation of a National Council, consisting of individuals from both the private and public sectors, to advise regulators. Pantami told the stakeholders that his Ministry has transmitted the Bill to the Minister of Justice and Attorney General of the Federation , who is making efforts to ensure that it receives a favourable consideration from the National Assembly.

In a presentation at the Bridge to MassChallenge partnership event, the DG, Kashifu Inuwa Abdullahi, asserted that a proactive startup ecosystem is vital for achieving sustainable wealth creation and an innovative digital economy.

Source: News Formal (newsformal.com)

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