The Nigeria Startup Act Project Team has said that 8 out of the 36 Nigerian states have indicated an interest in adopting the Act.
A statement by the project team Said Osun State is the latest to indicate interest in domesticating the Act. The State follows in the footsteps of Kaduna, Edo, Yobe, Ekiti, Anambra, Lagos, and Zamfara, who had earlier shown interest in adopting the Act.
A key success factor: In the meantime, the team noted that the success of the Act’s implementation relies on several factors, key among which is adoption by states.
While providing more updates, the project team noted that adopting the Act requires thorough processes considering diversity cutting across the different states.
- “While so much can be achieved in the era of the Act, very little will be achieved in the absence of State Adoption; it is that crucial. As members of the Nigerian public elect their next leaders, those elected increase their chances of succeeding when they adopt and execute the Act in their various states.
- “There is enough evidence that State governments see the benefits of adopting the provisions of the Act in their states. Osun state government, in recent days, became the latest administration to take steps at adopting the Act. It follows other states, including Kaduna, Edo, Yobe, Ekiti, Anambra, Lagos, and Zamfara, willing to adopt the Act to further the state development. Other states are expected to follow suit to avoid being left behind by founders, investors, talent, and economic prosperity.
- “These measures will help the state foster youth entrepreneurship while also strengthening the bond across the different tiers of government in the country. While the number of states showing signs of adopting the Act is increasing, showing interest or mapping out plans is not enough. It must be backed with concrete steps and actions,” the team stated in the latest update.
For the record: The Nigeria Startup Act is a joint initiative by Nigeria’s tech ecosystem and the Presidency to harness the potential of our digital economy through co-created regulations. Among other targets, the Act is to ensure that Federal laws & regulations are clear, planned & designed to work for the tech ecosystem. Through the implementation of the Act, Nigeria’s tech ecosystem is expected to see an improved enabling environment soon.
The Act, which seeks to provide an enabling environment for technology-enabled Startups in Nigeria, has been described as a game-changer for the burgeoning startup ecosystem in the country. However, stakeholders believe the country may not achieve much if it is not adopted by all states of the federation.