The Nigeria Startup Bill was passed on July 20th, 2022 by the Nigerian Senate and the Bill seeks to create a friendly environment for tech-based startups in Nigeria. It must be stated that the Nigeria Startup Bill is a joint initiative by Nigeria’s tech startup ecosystem and the Nigerian Presidency/Federal Government to harness the potential of the country’s digital economy through co-created regulations.
The Bill will ensure that Nigeria’s laws and regulations are clear and well spelt out for all foreign and local
investors who intend to invest and/or start a business within the Nigerian tech ecosystem.
Before now, investors and startups in Nigeria have faced difficulties with repatriating generated funds, capital, and profit outside Nigeria.
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