President Muhammadu Buhari has assented to Nigeria Startup Bill 2022.
Briefing newsmen on the provisions of the new law, the Minister of Communications and Digital Economy, Professor Isa Pantami, said it was meant to give legal backing to the growth of the ICT sector.
He explained that the Act had provision for tax holiday, incentives, and investment fund of at least one billion naira for youngsters wishing to start up ICT businesses in the country.
Professor Pantami explained that the outcomes of the engagements of the Ministry of Communications with Nigerian young innovators were instrumental to the enactment of the Act.
The Minister said the Act had provision for setting a Presidential Council to be chaired by the President, the Vice President to serve as Vice Chairman, and the Minister of Communications would preside over its affairs, in the event the two principal officers were absent.
Bello Wakili
