Nigeria Implements Startup Act with Launch of Innovative Support Portal for Entrepreneurs

Exciting News for Nigeria’s Tech Scene!

A brand-new support portal for startups has just been launched in Nigeria, marking a significant step in implementing the Nigeria Startup Act.

This Act, initiated in May 2021 by the Nigerian presidency and tech industry leaders, aims to set up clear rules for collaboration between startups and government bodies to boost the country’s growing tech community.

After getting the green light from the Federal Executive Council in December 2021, passing the Senate in July 2022, and being signed into law by President Muhammadu Buhari last October, the goal is to position Nigeria as Africa’s leading startup hub.

Now, a crucial part of putting the Nigeria Startup Act into action is the newly launched startup portal.

This portal will gather information about Nigerian startups, venture capital firms, hubs, and innovation centres, fostering engagement and support for everyone involved.

According to the National Information Technology Development Agency (NITDA), the portal’s launch is the first step in creating startup consultative forums.

These forums will play a key role in selecting representatives for the National Council for Digital Innovation and Entrepreneurship, facilitating discussions and consensus among Nigeria’s ecosystem players.

Excitingly, all Nigerian startups, venture capital companies, hubs, and innovation centres are invited to register on the portal. If you’re curious about the full bill, you can find it here, and a summary is available here.

This move aligns with a global trend in startup legislation, with Italy leading the way in 2012. Tunisia and Senegal were the first African countries to follow suit, and now Nigeria is making significant strides, joined by other nations like Mali, Ghana, Ivory Coast, the Democratic Republic of Congo (DRC), Rwanda, and Kenya, each at different stages of enacting their startup laws.