On 29 March 2022, the Nigerian Senate, through its official Twitter handle, announced that the Bill for an Act to Provide for the Creation and Development of an Enabling Environment for Technology-Enabled Start-ups in Nigeria and related matters, 2022 (the “Startup Bill” or “Bill”) has passed second reading.

The Start-up Bill is a joint initiative by Nigeria’s tech startup ecosystem and the Federal Government to harness the potential of our digital economy through co-created regulations aimed at providing a structured regulatory framework for startups. This is likely to improve investors’ confidence in Nigerian Startups and provide the infrastructure needed for startups to thrive in Nigeria.

This newsletter highlights some of the provisions of the bill.