Start-up Act to boost Nigeria’s economy – NITDA

The National Information Technology Development Agency (NITDA) has stated that the Nigeria Start-up Act will provide an enabling environment for growth, attraction and protection of investment in the country’s tech ecosystem.  The law was signed into law recently by President Muhammadu Buhari. Speaking at the Consultative Forum for IT stakeholders in Lagos, yesterday, the Director […]

The National Information Technology Development Agency (NITDA) has stated that the Nigeria Start-up Act will provide an enabling environment for growth, attraction and protection of investment in the country’s tech ecosystem. 

The law was signed into law recently by President Muhammadu Buhari.

Speaking at the Consultative Forum for IT stakeholders in Lagos, yesterday, the Director General of NITDA, Malam Kashifu Inuwa Abdullahi, said the Start-up Act would make it easier for start-up owners to grow their businesses and thereby grow the economy.

Represented by NITDA’s Director of Standards, Guidelines and Frameworks, Mr Oladejo Olawunmi, he noted that part of the challenge being faced by start-ups, especially in Africa, was legal backing and the law had taken care of that.

“We believe our own responsibility is to come up with policies that can enable a level playing field, and the government has been doing a lot in this area.”

A manager at NITDA, Zainab Gani, in a presentation said NITDA would fully implement the Act to make it work for every start-up.

She advised tech start-ups to always come up with innovative products.

“In Nigeria and of course across Africa, we cannot compete with the rest of the world in terms of hardware and any technology infrastructure, but when it comes to talent, we have a competitive edge over the rest of the world. So, we want to build on this with the Act,” she said.

A data compliance professional, Amos Emmanuel, said the Act would only attract foreign investors to the country if the relevant sections that speak about tax, charges and duties are implemented with sincerity.

Also, a software engineer, Emmanuel Omoke, said NITDA should set up an implementation team comprising officials from all MDA and professional bodies.