Home News FEC Approves Startup Bill To Provide Enabling Environment For Entrepreneurs
News

FEC Approves Startup Bill To Provide Enabling Environment For Entrepreneurs

Share
Share
The federal executive council (FEC) has approved the Nigeria startup bill to provide an enabling environment for entrepreneurs.

Minister of communications and digital economy, Isa Pantami made this known on Wednesday at the end of the council meeting in Abuja.

According to him: “The first one is on the Nigeria startup bill, which is exciting news to our innovators all over the country, particularly those who are working within the tech industry,” 

“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. 

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

Also Read: 5G Will Help Address Nigeria’s Security Challenges; Pantami

“By this, the Nigeria startup bill has replaced our national digital innovation entrepreneurship and startup policy.

“This bill has 11 chapters, and all of them have been crafted to provide the enabling environment for our startups to be very successful.

“Firstly, the bill will establish the national council for digital innovation and entrepreneurship. 

“This council is going to be chaired by Mr. President himself and part of the council he will be supported also by the Vice President and I will also support both of them and many relevant ministers and government parastatals are part of the council. 

“Furthermore, there is also the operational structure of the council in which all the relevant institutions have a role to play in providing the enabling environment for our startups to thrive, part and parcel of this operational structure. 

“The bill also addresses startup leveling process, where a startup is going to be labeled. And after that, there is eligibility for the grant. 

“If a startup 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 leveling for the startup.

Also Read: Buhari Doing A Lot To Protect Nigerians – Lai Replies Obasanjo

“The bill also will establish the startup investment seed fund, where there is going to be a dedicated fund to be provided by the federal government for our young innovators all over the country to apply for the startup investment Seed Fund to begin their own process if they need that.” 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Surveillance Contract: Coalition of Northern Youths Back Tompolo
News

Group Raises Alarm Over Plots Blow Pipelines to Blackmail Tompolo, Tantita

The Ijaw People’s Development Initiative, IPDI has alleged that some suspected individuals...

News

Warri: IYC Calls for Prosecution of Illegal Arms Dealers, Urges Olu to Restrain Subjects

The Ijaw Youth Council (IYC) Western Zone has condemned the actions of...

News

NDLEA Uncovers Illicit Drugs Packaged As Green Tea

The National Drug Law Enforcement Agency (NDLEA) has seized a consignment of...

News

FG Declares Thursday Public Holiday for 2025 Democracy Day

The Federal Government has declared Thursday as a public holiday to commemorate...

5win
RocketplayRocketplay casinoCasibom GirişJojobet GirişCasibom Giriş GüncelCasibom Giriş AdresiCandySpinzDafabet AppJeetwinRedbet SverigeViggoslotsCrazyBuzzer casinoCasibomJettbetKmsauto DownloadKmspico ActivatorSweet BonanzaCrazy TimeCrazy Time AppPlinko AppSugar rush