Group advocates speedy passage of Nigeria Start-up Billy
Ventures Platform Foundation, a non-governmental organisation, on Thursday called for the speedy passage of the Nigeria Startup Bill (NSB) before the National Assembly.
The group said this at a rally in Lagos organised to sensitise residents, especially upcoming startups, on the provisions and benefits of the bill.
The NSB project is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to harness the potential of our digital economy through co-created regulations.
The Bill will ensure that Nigeria’s laws and regulations are friendly, clear, planned and work for the tech ecosystem.
Speaking at the rally, Ms Olufunmi Osho, Lagos State Coordinator, NSB, Bill Project, said it would contribute to the creation of an enabling environment for growth, attraction and protection of investment in tech startups.
Osho said, “While this is our Bill; it is managed by the Ventures Platform Foundation and supervised by the Presidential Strategic Advisory Group comprising representatives from the tech-startup ecosystem in Nigeria.”
She noted that government was doing a lot in making the business environment favourable for startups to thrive.
Osho added that the bill would be of immense benefits to the youths in the tech space.
Also speaking, Mr Victor Famubode, Project Manager, NSB, said the bill would create an enabling environment, remove unclear framework and inadequate local content for Nigerian startups.
Famubode said that if passed into law, the Bill, would introduce a lot of incentives for startups such as tax holidays.
He said that it would be a Bill that would outlive the initiators far into the future.
Famubode noted that young people in Nigeria had been experiencing various setbacks to economic growth, innovation and development which was worsened by the COVID-19 pandemic.
“This is why the president is working with other stakeholders to create the Nigeria Startup Bill,” Famubode said.
The NSB is different from other Bills because it employs a big tent technique that has various stakeholders working together to deliver it.
