The lower chamber of the Nigerian National Assembly, the House of Representatives on Wednesday, July 27, 2022, passed the Nigeria Startup Bill (NSB). This followed the passage of the same bill by the Senate last week.
The bill was among ten bills announced to have passed the third reading at the House. Announcing the passage through its Twitter page, the Reps said the Bill for an Act to Establish National Council for Digital Innovation and Entrepreneurship, provide for the Creation and Development of an enabling environment for Technology-Enabled Startups in Nigeria; and for Related Matters, was passed after a third reading on the floor of the House.
With this development, the bill is set for onward transmission to the Presidency for Presidential assent.
The Nigeria Startup Bill project is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to harness the potential of the country’s digital economy through co-created regulations. The Bill will replace the National Digital Innovation Entrepreneurship and Startup Policy, a proposal that was going to be Nigeria’s approach to digital innovation.
What they are saying
- Speaking on the development, Stephen Edache, a volunteer on the NSB communications team said: “This is inspiring news for all of us on the team; a lot of hard work has gone into drafting the bill, generating support and just getting the word out there, and it’s great to see that all that effort is not a waste. I personally can’t wait until the final step where the president assents to the bill and startups begin to reap its benefits.”
- Edache said members of the NSB would now focus on the full implementation of the bill by driving state adoption to ensure that all states and their stakeholders such as state house of assemblies, executive governments and ecosystem members are engaged in adopting it so they can enjoy the benefits as well at a subnational level.
The progress of the bill has been said to be rapid as all hands are on deck to ensure that the bill is passed into law. Nigerian youths also pushed very aggressively for the bill’s adoption, following their rally at the National Assembly on the 27th of April, 2022 to demand the speedy passage of the bill.
