Nigerian President Buhari Signs Nigeria Startups Bill Into Law.
The Nigeria Startups Bill has been signed into law by President Muhammadu Buhari.
The Nigeria Startup Bill project which is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to harness the potential of our digital economy through co-created regulations is designed to give protection to Nigerian youths against harassment and abuses.
Minister of Communication and Digital Economy, Prof. Isa Ali Pantami who addressed State House Correspondents on the Nigeria Startups Act 2022, said it was signed into law by President Muhammadu Buhari at the Presidential Villa, Abuja, yesterday, October 19.
The new Act will establish the National Digital Innovation and Entrepreneurship Council, which would be chaired by the President.
Pantami who revealed that President Buhari, through the Ministry of Communication and Digital Economy, and the Office of the Chief of Staff, broached the bill, added that the government has earmarked N10 billion in start-up funding for startups and innovators to draw from.
Minister Pantami said that the new law was born out of the government’s desire to provide the required enabling environment for young startups and innovators, to address the various challenges facing the sector, including those of intellectual property, financing, regulation, and incentive.
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