President Muhammadu Buhari has approved the Nigeria Startup Act, which aims to strengthen the nation’s technological environment and support the industry.
The Nigeria Startup Act, which was launched in May by the Nigerian government and a group of influential figures in the country’s digital sector, lays out guidelines for how entrepreneurs and governing and regulatory authorities should work together to progress the nation’s expanding tech ecosystem.
The Federal Executive Council adopted the Nigeria Startup Bill, as it was formerly known, in December, and the Senate ratified it in July. Prof. Isa Pantami, Nigeria’s minister of communications and the digital economy, tweeted about it when it became the Nigeria Startup Act.
The new law seeks to establish Nigeria as having the best startup environment in all of Africa. The public may access the whole law here, while a summary is available here.
Italy approved the first unique startup legislation in the world in 2012, and Tunisia and Senegal were the first two African nations to adopt it. Several nations, including Mali, Ghana, the Democratic Republic of the Congo (DRC), Rwanda, and Kenya, are enacting laws at various stages.