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The National Information Technology Development Agency (NITDA) recently held a Digital Policy Dialogue in Lagos where it engaged stakeholders in the tech ecosystem to harness ideas for the effective implementation of the Nigeria Startup Act (NSA).
The event aimed at creating a platform where valuable insights could be gathered from stakeholders to create a practical framework for promoting innovation, entrepreneurship and sustainable economic growth within the Nigerian startup ecosystem.
Organised with the support of the GIZ/Digital Transformation Center Nigeria, it was designed to enhance policy implementation capacities in the digital innovation ecosystem, enhance stakeholder collaboration from various sectors, create an inclusive policy implementation framework as well as promote innovation and economic growth.
“The Act provides for several benefits for Startups including Tax incentives, access to seed funds, grants and loans, protection of intellectual property, talent development and capacity building and, regulatory support among others”, said Director General of NITDA, Kashifu Inuwa Abdullahi while giving an overview of the NSA and its benefit as well as opportunities for Nigerian youths.
“The NSA was passed in October 2022 to create a more favourable environment for Startups in Nigeria,” added Abdullahi who was represented by his Special Adviser on Digital Transformation, Dr. Aminu Lawal.
He said the Act would increase visibility for Nigerian startups enabling them to attract both foreign and domestic investment, create jobs and boost innovation.
The law “would have a significant impact on people, processes and technology which are the three pillars of digital transformation” said the NITDA boss even as he stressed that training and mentorship provided by the Act would enable the required skills and knowledge needed to succeed in the digital age.
His words: “This will help to create a more skilled workforce in the digital sector and boost the digital economy.
“To make the most out of the provisions of the Startup Act, we are committed to strengthening collaboration with public sector stakeholders and entrepreneurs to proactively, anticipate disruptive innovations and their implications, build capacity and a conducive environment to unlock their potential and recognize new niches for industries. This way, stakeholders will invest in our creative entrepreneurial population, while also building bridges towards achieving sustainable and inclusive growth.”
