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Senate Approves The Nigerian Startup Bill

Senate Approves The Nigerian Startup Bill 

The council would build and promote an enabling environment in Nigeria for technology-enabled start-ups.

By Omotayo Olutekunbi

The Nigerian start-up Bill was approved by the Nigerian Senate on Wednesday, July 20, 2022.
The law was approved after the Committee on ICT and Cyber Security’s report was reviewed.

In his presentation, the bill’s sponsor, Senator Oseni Yakubu (APC – Kogi Central), stated that it aims to establish the National Council for Digital Innovation and Entrepreneurship.

He said that after being established, the council will construct and develop a supportive environment for technology-enabled start-ups in Nigeria.

A bill for an Act to guarantee commercial transparency, efficiency, and productivity in Nigeria, as well as for other connected concerns, scaled second reading on Wednesday.

Ajayi Boroffice (APC – Ondo North), Deputy Senate Leader, supported the bill.

The Committee on Trade and Investment was asked to provide additional legislative advice on the measure after it had been reviewed by the Senate President, Ahmad Lawan.

Two weeks were allotted to the Committee to provide a final report to the chamber in plenary.

Relatedly, a different measure to create the Federal Nephrology and Kidney Research and Treatment Centre Hadejia passed the second reading on the floor.

Lawan referred the measure to the Committee on Health, which was sponsored by Senator Hassan Ibrahim Hadejia (APC – Jigawa North-East) (Secondary and Tertiary).

The Committee, chaired by Senator Yahaya Oloriegbe, had four weeks to submit its findings.

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