In March this year, the bill reached the National Assembly accompanied by a letter from the presidency. According to the letter, the Startup Bill aims to position the country’s startup ecosystem as the continent’s leading hub for digital technology.
Nigeria’s tech ecosystem may soon benefit from an improved enabling environment as the bill nears presidential assent. Tech startups in Nigeria lack basic amenities like constant power supply, limited funding, and a number of regulatory hurdles. Since the Central Bank of Nigeria banned crypto trading in 2021, crypto startups, for example, have had to innovate. State regulations also banned bike-hailing startups in Lagos, Nigeria’s largest city, in 2020 and sent mobility startups like ORide, Max. ng, and Gokada fleeing.
The Nigeria Startup Bill aims to close the engagement gap between startups and regulators and eliminate harmful regulations like these. A summary of the bill and the bill itself are available to the public. As part of the bill, incentives such as tax breaks, government loans, and credit guarantees are proposed to promote the establishment, development, and operation of startups in the country.
With the Nigerian Senate’s passage, the bill moves to the House of Representatives (HoR), where it will undergo three readings. Upon approval by the HoR, the bill will be sent to the president for his assent and thus become law.
The timeline of the bill
June–September 2021: The Nigeria Startup Bill draft is created by the Nigerian presidency, in collaboration with 30 technology leaders, including Ventures Platform founder Kola Aina and Future Africa founder Iyin Aboyeji, NITDA officials, and the minister of digital economy Isa Pantami.
October 2021: A draft of the bill is submitted to the Presidency and the Federal Executive Council (FEC).
December 2021: The Federal Executive Council (FEC) approves the bill.
February 2022: Nigerian president, Muhammadu Buhari, passes the bill to the National Assembly.
March 2022: The bill reaches the National Assembly and is received by the Nigerian Senate.
June 2022: Lagos, Nigeria’s most populous state, announces plans to domesticate the bill at the state level.
July 2022: Nigerian Senate approves the bill and passes it to the House of Representatives.
In other news, at the Titans of Tech Awards, EKOEXCEL shines. The Lagos State Universal Basic Education Board (LASUBEB) EKOEXCEL shone brightly at Lagos’s 18th yearly Titans of Tech Awards.
The intervention, launched in 2019 by Governor Babajide Sanwo-Olu to transform Lagos public primary schools through technology deployment, was honoured with the Most Innovative Digital Learning Platform of the Year Award at the major industry event.
Former Executive Vice Chairman, Nigerian Communications Commission (NCC) and Chairman, MTN Nigeria, Dr Ernest Ndukwe, chaired this year’s awards, which celebrated trailblazing innovators, organisations, governments and individuals who use ICT to improve lives in society. It also recognises excellence and steadfast commitment to deploying ICT for positive interventions in Nigeria.
In awarding the Most Innovative Digital Learning Platform of the Year Prize, the organisers described it as the foremost Nigerian digital platform, digitising education for national development and preparing pupils for the 21st Century.
Commenting on the award he personally received, LASUBEB’s Executive Chairman, Wahab Alawiye-King, expressed delight at the honour.
He said the recognition was humbling and attested to Sanwo-Olu’s foresight and commitment to improving primary education through technology.
“I am humbled and honoured to receive this award on behalf of Governor Babajide Sanwo-Olu. This shows that his investment in public education is yielding positive results,” Alawiye-King said before dedicating it to all its stakeholders.
“We are dedicating this award to all the pupils, teachers and head teachers for their support. I equally want to appreciate and commend our technical partner, NewGlobe, for your wonderful support. We appreciate it,” he said.
Speaking earlier while welcoming guests, the Convener of the Titans of Tech Awards, Don Pedro Aganbi, said it is a platform dedicated to recognising key stakeholders’ achievements, successes and triumphs across the entire digital technology spectrum.
He explained that the awards were a great way to encourage good behaviour, teach competitive spirit and spur the industry to greater heights.
Since its launch, it has continued to record tangible gains among teachers and pupils, leading to improved learning outcomes for pupils and more professional teachers.
Over 14,000 teachers from 1,011 public primary schools have been captured under the scheme. It has also enhanced the teacher-pupil interaction experience through technology (e-Learning) in Lagos State primary schools.
EKO EXCEL has also significantly increased pupils’ learning outcomes and drastically reduced the number of out-of-school children in the state by enrolling them in schools through the ‘Leave No Child Behind’ policy.
Preceding the awards ceremony was The Pan African Digital Initiative Summit & Expo (P.A.D.I.S.E) 2022, featuring some top names in Nigeria’s technology and security space.
Prof. Isa Ali Pantami, Minister of Communications and Digital Economy of Nigeria delivered the keynote address at the summit, and thereafter, the EXPO was declared open with EKOEXCEL as one of many exhibitors showcasing their products and services.