Senate Passes Startup Bill

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CEM REPORT | The Senate has passed the “Nigerian Startup Bill 2022”.

The Bill which seeks to create and develop an enabling environment for technology-enabled startups in the country, was passed following a report by the Senate Committee on ICT and Cybersecurity.

Chairman of the committee Senator Oseni Yakubu, said the bill will see the establishment of a “National Council for Digital Innovation and Entrepreneurship” which will facilitate the creation and development of enabling environment for technology-enabled startups in Nigeria.

The bill, when assented to by the president and codified, will ensure that Nigeria’s laws and regulations are clear, planned, and work for the tech ecosystem.

The Nigerian Startup Bill is a joint initiative by the nation’s tech startup ecosystem and the Presidency to harness the potential of Nigeria’s digital economy through co-created regulations.

Also at the plenary session, Deputy Senate leader, Ajayi Boroffice, sponsored a bill which seeks to provide ease of doing business that ensures transparency, efficiency, and productivity in Nigeria and other related matters passed second reading.

The bill, after consideration, was referred by Senate President Ahmad Lawan to the committee on trade and investment for further legislative input.

The Senate gave the committee two weeks to report back to the chamber in plenary.

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