Buhari signs Nigeria Start-Up Bill into law

myDelsu News Staff 2

278 1 minute read

On Wednesday, the President of Nigeria, Major General Muhammadu Buhari (ret.), signed the Nigeria Start-Up Bill into law.

After a meeting with the President at the White House, Isa Pantami, the Minister of Communications and Digital Economy, made the announcement.

Pantami claims that the Start-Up Law that was enacted on July 20, 2022 was a measure proposed by the executive branch and was designed to foster the growth of new businesses in the technology sector in Nigeria.

He also said that the law will help new businesses more easily recognize and articulate their difficulties, which would have broad economic advantages.

According to the minister, the ICT industry accounted for 18.42% of GDP in 2022, and the new law would also create a N10bn fund for qualifying start-ups across the country.