Nigeria’s Federal Executive Council Approves Startup Bill

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Nigeria's Federal Executive Council Approves Startup Bill

The Federal Executive Council, FEC, Wednesday approved the Nigeria Startup Bill to be sent to the National Assembly for legislation.

The Nigeria Startup Bill project is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to harness the potential of the country’s digital economy through co-created regulations. The Bill will ensure that Nigeria’s laws and regulations are friendly, clear, planned and work for the tech ecosystem. This, is believed, will contribute to the creation of an enabling environment for growth, attraction and protection of investment in tech startups.

The Minister of Communication and Digital Economy, Dr. Isa Pantami, made the diclosure this while briefing State House correspondents at the end of the virtual council meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja.

Dr. Pantami explained that the 11-chapter bill replaces the National Investment and Startup Policy. He said, with this development, his Ministry will work closely with the Attorney General of the Federation, AGF, and Minister of Justice, Abubakar Malami, to liaise with the National Assembly to convert the bill into law.

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