Buhari signs Nigeria Startup Bill into law

By Felicia Nwosu

In line with its plan to create laws that support the growth of the tech startup ecosystem and to harness the potential of the nation’s digital economy through co-created regulations, President Muhammadu Buhari has signed into law the Nigeria Start-up Bill.

This was after the National Assembly had last month transmitted the Start-up Bill to the President for assent. Isa Ali Pantami, the Minister of Communications and Digital Economy disclosed the news on his Twitter handle while confirming the ascension of the Bill by the President, describing it a win for Nigeria’s Digital innovation and entrepreneurship ecosystem.

“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 Communications & Digital Economy. Congratulations to all!”

Meanwhile, President Muhammadu Buhari also shared this on his Twitter handle while reiterating his administration’s commitment.
“Our commitment to creating an enabling environment for Nigerian technology startups should never be in doubt. Today I signed into Law the Nigeria Startup Bill (NSB), developed by our administration to provide stable legal framework and incentives for technology innovation.”

The Nigeria Startup Bill project is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to ensure that Nigeria’s laws and regulations are clear, planned and work for the tech ecosystem, as well as contribute to the creation of an enabling environment for growth, attraction and protection of investment in tech startups.