The Nigeria Startup Bill passed the third reading in the House of Representatives on Wednesday, July 27, 2022.
This means the bill is getting closer to becoming law. Remember that the Senate approved the Nigeria Startup Bill on July 21, 2022.
In May 2021, it was reported that founders, investors, and government representatives were meeting to discuss a Startup Bill for Nigeria.
That move came just a few months after some troubling regulations, including a ban on motorcycle hailing platforms in Lagos and another on cryptocurrency transactions in the country’s financial sector, were on the verge of becoming law.
With the passage of the bill in the House of Representatives, it has completed its journey through the National Assembly.
Currently, the bill is awaiting presidential assent before it can become law.
According to Oswald Osaretin Guobadia, Senior Special Assistant to the President on Digital Transformation, the implementation and state adoption of this bill necessitates continued engagement and collaboration on execution.
However, its success relies on the involvement of all ecosystem stakeholders, including lawmakers, policymakers, and practitioners.