SmartPreneur
Advertisement
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
SmartPreneur
No Result
View All Result
Home Trending News

FG Working On A Bill To Support Tech Startups And Founders In Nigeria

Blessing Osazuwa by Blessing Osazuwa
April 20, 2022
in Trending News
0
FG Working On A Bill To Support Tech Startups And Founders In Nigeria
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Minister of Communication and Digital Economy, Isa Pantami, has appealed to members of the House of Representatives to back an Executive Bill seeking to create enabling environment for technology innovators in Nigeria to maximise their potential by becoming job creators in the ICT sector.

Join our communityJoin our communityJoin our community

Pantami stated that if the FG supports tech founders, it will  go a long way in creating many job opportunities for the citizens. “These young entrepreneurs are not seeking jobs from the government. In fact, they are employers, not employees.

” So by implication,  if we support them, that will  go a long way in creating many job opportunities for our citizens.

“Because all the start-ups are not in any way potential job employees but rather potential job providers,” Pantami said.

The minister said the proposed legislation titled: “a Bill for an Act to Provide for the Creation and Development of an Enabling Environment for Technology Enabled Startups in Nigeria,” when it becomes law would attract serious investment to expand numerous business ideas by young Nigerians who come up with problem-solving innovations on daily basis without having to depend on government for sustainability.

Pantami said since the private sector controls 91 per cent of financial inflow into the economy as demonstrated by available statistics, the bill if passed would encourage investors seeking to expand innovative ideas.

He also said the bill when enacted would create a regulatory Council which would be chaired by the president, with a view to providing policy guidance to tech startups.

He said, “There are seven Unicorns in Africa and five have roots in Nigeria with offices in Nigeria but registered in other countries due to lack of enabling laws to protect their innovations and investment.

“One of the startups that came up in 2018, by 2020, their value rose to $3 trillion which is the largest in Africa, and they are based in Lagos. The essence of this Bill first of all is to create jobs for the teeming youths through these innovations and improve the economy.”

When asked by the lawmakers, if the proposed Council would not add further burden on the already overstretched federal purse, as well as its effects on the role of the Nigeria Communications Commission (NCC), Pantami disclosed that funding for startups under the new law would be in form of soft loans aides by the Nigeria Sovereign Investment Authority with flexible interest rate and repayment timeline.

On NCC’s role, he said the Council would not affect the NCC in any way as it is in charge of telecommunications activities in the country while the Council deals with innovations in the ICT sector.

Tags: Africa Tech foundersDigital Bill in NigeriaIsa Ali PantamiNigerian startups 2022SmartpreneurTech startups in Nigeria
Previous Post

Post-Holiday Blues: How to reactivate work mode after time off

Next Post

CLI College Nigeria To Train Young Women In Upcoming UI/UX Design Workshop

Blessing Osazuwa

Blessing Osazuwa

Blessing does the research to bring you needed information for success.

Related Posts

Win Free Product Shoot In the #CaptureMyBusiness Challenge
Trending News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

by Blessing Osazuwa
March 24, 2023
0

Smartpreneur, in partnership with Emblue Space and Studios, is offering an opportunity for female business owners to take their businesses...

Read more
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31
Trending News

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

by Ruth Okwumbu-Imafidon
March 24, 2023
0

In today's fast-paced and rapidly changing economy in the country and the globe, it has become more important for today’s...

Read more
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.
Trending News

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

by Ruth Okwumbu-Imafidon
March 22, 2023
0

Nigerians using MailChimp will have to pay 7.5% more from April 20, 2023, as the company is set to implement...

Read more
The New CBN Cash Withdrawal Policy; What will happen to MSMEs now?
Trending News

CBN Increases Lending Rate to 18%

by Ruth Okwumbu-Imafidon
March 22, 2023
0

In an aggressive push to contain the nation’s inflationary pressure, the Central Bank of Nigeria on Tuesday raised its benchmark...

Read more
NCC Directs Mobile Network Operators To Implement Harmoniesed Short Codes
Trending News

NCC Directs Mobile Network Operators To Implement Harmoniesed Short Codes

by Ruth Okwumbu-Imafidon
March 20, 2023
0

The Nigerian Communications Commission (NCC) has directed all mobile network operators (MNOs) to commence the implementation of the approved harmonized...

Read more
Naira Redesign Policy: Nigeria’s GDP Projected To Drop In Q1 2023 By About N10 Trillion
Trending News

Naira Redesign Policy: Nigeria’s GDP Projected To Drop In Q1 2023 By About N10 Trillion

by Ruth Okwumbu-Imafidon
March 20, 2023
0

Oyeyemi Kale, former statistician-general of the federation, says Nigeria’s gross domestic product (GDP) would contract in the first quarter (Q1)...

Read more
50,000 African Women to Benefit from $100m AfriLabs Business Grant
Trending News

50,000 African Women to Benefit from $100m AfriLabs Business Grant

by Ruth Okwumbu-Imafidon
March 17, 2023
0

ne of the largest communities of innovation enablers, AfriLabs, has announced that it would be supporting 50,000 African women through...

Read more
Load More
Next Post
UI/UX Design

CLI College Nigeria To Train Young Women In Upcoming UI/UX Design Workshop

Please login to join discussion

Recent News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

Win Free Product Shoot In the #CaptureMyBusiness Challenge

March 24, 2023
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

March 24, 2023
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

March 22, 2023
The Power of High-Quality Product Photos for Boosting Your Ecommerce Site's Success

High-Quality Photos: The power of visuals in Boosting Your Ecommerce Business

March 22, 2023
SmartPreneur

© 2020 SmartPreneur

Navigate Site

  • Home
  • Trending News
  • Radio
  • Games & Quizzes
  • TV

Follow Us

No Result
View All Result
  • Home
  • Trending News
  • Radio
  • TV
  • Hustle Life
  • Brand Insights
  • Profiles
  • Game & Quizzes
  • Weekend Teaser

© 2020 SmartPreneur