17 April 2024 – The Nigeria Startup Act has been used to register 12,948 businesses to date. They were registered for labeling, according to the National Information Technology Development Agency (NITDA), which made this information public.
The Nigeria Startup Act was signed into law by former President Muhammadu Buhari in October 2022. The registration process, which is being carried out via the startup site, is the first stage in its implementation. NITDA said that since the registration portal’s opening in November 2023, 912 venture capitalists, 1,735 angel investors, and 925 accelerators, incubators, and hubs had registered.
Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, claims that the portal fosters dialogue and agreement among Nigerian ecosystem participants while enabling the government to start the process of establishing startup consultative forums to choose representatives for the National Council for Digital Innovation and Entrepreneurship.
Conclusion
In response, Tijani said on X, “I am delighted that the Nigeria Startup Portal, which will label startups and register other ecosystem actors, has now been deployed,” in response to NITDA’s update on the registrations logged on the portals so far.
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