Where is Nigeria’s Startup Act?

The bills are sweeping across Africa without any indication the continent’s largest ecosystem will benefit next.

Lagos, Nigeria’s megacity and bustling startup hub (credit: Wikimedia)

Economic contractions induced by the COVID-19 pandemic could have serious implications for many Nigerian startups.

As one of Africa’s ‘Big Four’ tech hubs, where SMEs account for over 80% of all jobs and nearly half of GDP, providing relief to Nigeria’s startup sector should form a key component of the country’s recovery.

“…the lack of clarity and the time or cost spent on lobbying efforts around policy and regulation can take away from time and cost injected into growing the business instead.”

The Paystack team at their Lagos headquarters (credit: Ventureburn)

Nigeria’s startups are some of the most resilient on the continent, but government inaction risks deepening the pain by causing long-term damage to the sector.

Two years after Tunisia’s Startup Act was passed, the country’s digital economy has flourished and the payoff has been huge.

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