Introduction
A key consideration for doing business in a country is
the sectoral regulatory framework. Accordingly, the recently
enacted Startup Act, 2022 (the "Act"), a landmark
legislation on the regulation of startups in Nigeria, seeks to
create a robust legal framework for key regulatory bodies to
provide support to startups in Nigeria. In this third part of our
series, we consider the regulatory regime under the Act and the
respective roles of the bodies created thereunder.
1. The National Council for Digital innovation and
Entrepreneurship
A key body established by the Act is the National Council for
Digital Innovation and Entrepreneurship (the "Council").
The Council is established as a body corporate with perpetual
succession and a common seal1 . The Council is headed by
the President of the Federal Republic of Nigeria, who serves as the
Chairman with the Vice President, Ministers, and other information
technology experts represented on the Council.2
