For Labeling, Nigeria Startup Act Attracts 12,948 Small Businesses

An estimated number of 12,948 startups have so far been registered through the Nigeria Startup Act. The National Information Technology Development Agency (NITDA), which disclosed this, stated that they were registered for labeling.

The registration, done through the startup portal, is seen as the first step in implementing the Nigeria Startup Act, which was signed into law in October 2022 by former President Muhammadu Buhari.

While inviting Nigerian startups to register on the platform, NITDA stated that the registration will make them “become eligible for statutory incentives, resources, and opportunities.”

The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, also explained that the portal allows the government to initiate the process of setting up the startup consultative forums to select representatives to the National Council for Digital Innovation and Entrepreneurship while facilitating discourse and consensus among Nigerian ecosystem players.

Responding to NITDA’s update on the registrations recorded on the portals so far, in a post on X, Tijani said: “I am delighted that the Nigeria Startup Portal, which will label startups and register other ecosystem actors has now been deployed. The platform will also facilitate a consultative forum where issues affecting startups can be discussed and properly defined for action by the government and other stakeholders.

“We will be prioritising the objectives of Startup Act to improve the operating environment, prospects, and opportunities for our Startup Ecosystem and I’m encouraging members of the ecosystem to visit the platform and register.”