The Federal Government has assured that the Startup Act would ensure fresh investments into the tech ecosystem, as well as the Nigerian economy.
Speaking through the National Information Technology Development Agency (NITDA), FG stated that the Nigeria Startup Act would provide an enabling environment for growth, attraction and protection of investment in Nigeria’s tech ecosystem.
The Startup Act, which was signed into law recently by President Muhammadu Buhari, institutionalises legal frameworks that will enhance the growth of startups in the country. At a Consultative Forum for IT Stakeholders in Lagos, yesterday, the Director –General, NITDA, Malam Kashifu Inuwa Abdullahi, said the Startup Act would make it easier for startup owners to grow their businesses and thereby grow the economy.
Represented by the NITDA’s Director of Standards, Guidelines and Frameworks, Oladejo Olawunmi, Abdullahi noted that part of the challenge being faced by startups especially in Africa, was legal backing and the law had taken care of that.
Abdullahi noted that starting and growing businesses in Africa used to be a big challenge, but with the law in place, it would now be easier to start and grow business in the country.