The Nigeria Startups Bill which is expected to protect youths in the innovative sector against harassment and other abuses, has been signed into law by President Muhammadu Buhari.
Minister of Communication and Digital Economy, Prof. Isa Ali Pantami who addressed State House Correspondents on the Nigeria Startups Act 2022, said it was signed into law by President Muhammadu Buhari at the Presidential Villa, Abuja, yesterday, October 19.
The new Act will establish the National Digital Innovation and Entrepreneurship Council, which would be chaired by the President.
Pantami who revealed that President Buhari, through the Ministry of Communication and Digital Economy, and the Office of the Chief of Staff, broached the bill, added that the government has earmarked a N10 billion start up funding for startups and innovators to draw from.
He also said that the new law was born out of the government’s desire to provide the required enabling environment for young startups and innovators, to address the various challenges facing the sector, including those of intellectual property, financing, regulation and incentive.