The Nigeria Startup Act Secretariat has formed a partnership with ONE Campaign in order to increase the likelihood of the Nigeria Startup Act being adopted by state governments across Nigeria.
During the initial phase of the engagement, the Secretariat will arrange ecosystem events in six different states: Kwara, Ondo, Osun, Kan, and Jos. The purpose of these gatherings is to consult with key startup stakeholders, such as entrepreneurs, investors, and policymakers, on the best ways to domesticate and adopt the Act.
The Nigeria Startup Act is a national policy framework that was designed with the intention of fostering an environment that is conducive to the growth of technology-enabled startups and businesses in Nigeria. The Act makes provisions for the establishment of innovation centres, startup funds, technology parks, and other types of support structures that will assist entrepreneurs in thriving within the Nigerian economy.
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Opinions of Officials on the Nigeria Startup Act
Mr. Oswald Osaretin Guobadia, Senior Special Assistant to the President of the Federal Republic of Nigeria and the lead of the Nigeria Startup Act secretariat, stated in his goodwill remarks that the state adoption programme will not only build an innovation and technology ecosystem in all underserved areas in Nigeria, but it will also turn Nigeria into a country that produces technology solutions.
Guobadia is also the lead of the Nigeria Startup Act secretariat. He emphasised that when states adopt, they assure that the next unicorns or companies that will impact the globe will start from a village in Nigeria. He said that this would make Nigeria a global leader in innovation.
Mr. Joel Ogunsola, the Chief Executive Officer of Prunedge Technologies, a technology solution startup, commented on the need for states to adopt the Act and use it to catalyse digital economic growth. He reiterated that the state adoption of the Nigeria Startup Act is key for states to be able to create an innovation ecosystem that attracts investments and talent. Mr Joel Ogunsola is a startup that provides technology solutions.
The Potentials to be Harnessed
In her remarks, Mrs. Tracy Isaac, who is the State Adoption Lead at the Nigeria Startup Act Secretariat, remarked that the Act is a game-changer for startups in Nigeria and will assist to unlock the full potential of the Nigerian economy. She was one of the other speakers at the event. She reaffirmed that young people in Nigeria’s states need to be given the authority and resources necessary to become technology solution entrepreneurs and producers if the country is to become a digital economy behemoth.
“The Startup Act has the potential to stimulate the digital economy, promote economic growth, and reduce unemployment by creating new jobs,” said Stanley Achonu, the Country Director for ONE Campaign in Nigeria.
He also shared that the passage of the legislation by the federal government is certainly a start in the right direction; nevertheless, the ultimate effectiveness of the legislation will be determined by how well the states implement it. As a result, it is essential for state governments to not only approve the Act but also modify it in accordance with their particular circumstances and work actively to ensure that it is successfully implemented.
The Nigeria Startup Act Secretariat and the ONE Campaign have issued a call to all stakeholders at the subnational level, urging them to continue to collaborate in order to facilitate the swift passage of the Startup Act, which will allow for the creation of an environment that is conducive to the growth of startups.
Please visit the website of the Nigeria Startup Act Secretariat at https://nigeriastartupact.ng/ if you would like further information about the Nigeria Startup Act and its subsequent adoption.