Legal and institutional framework for Nigerian startups — a labelling system, tax and investment incentives, a Startup Investment Seed Fund and a National Council chaired by the President.
Co-created by the tech ecosystem and government, the Nigeria Startup Act 2022 gives labelled startups a dedicated legal regime: a 'startup label' issued via a portal, access to tax reliefs (including pioneer-status incentives) and a Startup Investment Seed Fund (targeted at ₦10bn) managed by the Nigeria Sovereign Investment Authority. It creates the National Council for Digital Innovation and Entrepreneurship (chaired by the President) and a Secretariat under NITDA, and provides for regulatory support, talent development, and easier access to credit and grants. It was signed by President Buhari on 19 October 2022.