Nigeria Startup Bill Passes Second Reading At Senate

TECHDIGEST – A bill seeking to enhance technology-based startups in Nigeria has passed second reading at the senate.

The bill passed second reading after Abdullahi Yahaya, senate leader, led a debate on the general principles of the bill on Tuesday.

President Muhammadu Buhari had asked the national assembly to pass the bill seeking to establish a council for digital innovation.

Contributing to a debate on the bill, Ajayi Borrofice, deputy leader of the senate, said the bill is imperative because it would create the needed atmosphere for startups to thrive.

Borrofice said the bill, when passed and assented to, would unlock the potential of the country’s youths.

“I support this bill and recommend it for second reading. MSMEs form the bedrock of industrial development in civilized countries and these enterprises emerge from startups,” he said.

“This is the right time for us to encourage startups and put the right environment for startups to exist.

“This is one of the ways we can unlock the potential of our youths to create their own contribution to the development of our country.”

On his part, Sabi Abdullahi, deputy whip of the senate, said the bill would curb cybercrime in the country.

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“I expect when this bill finally becomes law, its operation will guarantee a reduction in cybercrime because a platform has been provided for Nigerian youths to be legit in what they do, especially in showcasing their talent,” Abdullahi said.

Smart Adeyemi, senator representing Kogi west, the bill would encourage the country’s youths who have brilliant ideas.

“I rise to support this bill,” Adeyemi said.

“More than ever before, this is the time for us to encourage our younger generation with their great ideas and innovations so that they can have breakthroughs.”

The bill was passed when it was put to a voice vote by Senate President Ahmad Lawan.

The bill was referred to the committee on cyber security. The panel is expected to report back in four weeks.



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