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ARTICLE · 20 MAY 2021

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Does Nigeria Need A Startup Act?

AELEX
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Startups are young companies that are founded to develop a unique product or service and bring it to the market. In recent years on the African Continent, several startups have been making positive...

NigeriaCorporate/Commercial Law
Oluwapelumi Omoniyi
Oluwapelumi Omoniyi
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Prologue

Startups are young companies that are founded to develop a unique product or service and bring it to the market. In recent years on the African Continent, several startups have been making positive impact in their communities leading to several countries enacting or planning to implement a Startup Act. So, a pertinent question is, should Nigeria jump on the 'Startup Act bandwagon'?

In this article, we will examine this question by; understanding what Startup Acts are, exploring  the reasons why countries are trying to implement this peculiar legislation, and explore  alternative pathways that can adopt be adopted, and finally conclude with recommendations that ensures Nigeria's nascent tech ecosystem grows into a powerhouse.

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