President Muhammadu Buhari has established a National Council for Digital Innovation and Entrepreneurship (NCDIE), comprised of 14 members.
The establishment of the council is based on the Nigeria Startup Act of 2022 (NSA, 2022), which was signed into law last year.
NCDIE has 14 members including the President who chairs the council. Other members are the Vice-President, Finance, Budget, and National Planning Ministers, Trade and Investment, Communications and Digital Economy Ministers, and the Governor of the Central Bank.
Buhari emphasized the importance of the NCDIE in driving economic growth and job creation, as well as consolidating the gains made in the sector during his administration.
According to the president, the council is tasked with promoting the development of the country’s digital economy and creating a conducive environment for entrepreneurs to thrive.
He also stated that the NCDIE would be in charge of overseeing the implementation of the Nigeria Startup Act, which aims to promote the growth of innovative startups and small and medium-sized enterprises (SMEs) in the country.
Buhari stated that access to funding, support infrastructure, and security payments remain significant challenges for Nigerian startups.
“These remain major barriers to the growth of the ecosystem particularly for early stage startups,” the president said.
“The provisions of the Nigeria Startup Act 2022 present an important step towards addressing these challenges and promoting the growth and inclusive startups ecosystem in Nigeria.
“Furthermore, the implementation of the Act led to consolidation and further development of the gains recorded in the digital economy.”
The council will meet in May 2023 to make further progress on the implementation of the Nigeria Startup Act.
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