The Nigeria Startup Bill has been signed into law by President Muhammadu Buhari.
Isa Pantami, Minister of Communications and Digital Economy, announced this on Wednesday following a meeting with President Aso Villa.
He revealed that the startup bill, which was passed on July 20, 2022, was initiated by the executive arm and seeks to create an enabling environment for Nigerian tech-based startups.
Pantami went on to say that the law, which has huge implications for the Nigerian economy, took an approach that allows startups to identify and voice business challenges.
According to the provisions of the law, the Federal Government intends to establish a 10 billion naira startup fund in the country.’
In 2022, the information and communications technology sector has already contributed 18.42 percent.