Nigeria’s Minister of Communication and Digital Economy, Prof Isa Pantami has disclosed that the much awaited Start-ups Bill that will protect Fintech/Start-up businesses in Nigeria is ready and awaiting Executive assent.
This was disclosed by Minister, while delivering an address at the Art of Technology event held in Lagos, yesterday.
Pantami said: “The Startup Bill, which is now before the FEC, will accelerate the growth of small and new technology firms in Nigeria when enacted into law.”
According to The Guardian report, since the presidency and tech ecosystem began work on the Startup Bill earlier in the year, it has generated interest in both the public and the private sector. Several policymakers have described the potential of the bill as “transformational”, not only for the tech ecosystem but also for the entire economy.
Also speaking at the Art of Technology summit in Lagos, the lead of the Nigeria Startup Bill project, Mr. Oswald Osaretin Guobadia, gave an impassionate speech where he spoke on importance of innovation and the need for Nigerian youths to focus on creating innovative and globally competitive products and services.
Facebook Head of Policy (West and Central Africa), Adaora Ikenze, echoed the importance of the Startup Bill, saying: “If passed into law, it will be a great move in the right direction. Not only will the tech ecosystem be strengthened, but it will also help to close existing regulatory gaps.”
On his part, Head of Tech Cabal Insights, Olarenwaju Osunowo, said: “If indeed the bill will soon be considered at the FEC, then the tech community couldn’t have asked for a better Christmas gift.
“A lot of people have worked tirelessly to co-create this bill, and to see that it is getting to the highest approval of the executive branch of government at such a record time, leaves me with great joy. We will, however, continue to monitor the progress of the bill until it is passed.”
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