The Federal Executive Council (FEC) has approved the Nigeria Startup Bill to be sent to the National Assembly for legislation. According to reports, the bill was designed to provide an enabling environment for business start-ups to thrive. This was disclosed on Wednesday by the Minister of Communications and Digital Economy, Isa Pantami at the end of the virtual council meeting in Abuja.
Pantami said, “The Federal Executive Council has approved the Nigeria Startup Bill and has also directed my humble self, the minister of communications and digital economy, and also the Attorney-General of the Federation and Minister of Justice, to ensure that we immediately liaise and transmit same to the national assembly to begin the legislative process of converting it into law.
“By this, the Nigeria Start-up Bill has replaced our National Digital Innovation Entrepreneurship and Start-up Policy. The bill has 11 chapters, and all of them have been crafted to provide the enabling environment for our start-ups to be very successful.”
He also disclosed that the bill would set up the National Council for Digital Innovation and Entrepreneurship which would be chaired by President Muhammadu Buhari and made up of relevant ministries and parastatals.
According to the minister, “The bill also addresses start-up levelling process, where a start-up is going to be labelled. And after that, there is eligibility for the grant.
“If a start-up is looking for a government grant, there is a process to follow, which is very easy, and at the end, the government will be able to provide the grant and also there is a process of issuance, this certificate of levelling for the start-up.”
/origin-imgresizer.eurosport.com/2024/03/02/3920892-79650608-2560-1440.jpg "BREAKING: Kylian Mbappé Announces PSG Exit")
