The Federal Government approved tax reliefs for startup tech companies to encourage and support the development and growth of more Innovation-Driven Enterprises as well as creating millions of jobs in the country.
This was stated by the Minister of Communications and Digital Economy, Isa Ali Pantami in a statement on Sunday by his technical assistant, Femi Adeluyi.
The statement read in part: “This will also help to develop innovative solutions to societal problems, and rapidly grow, as well as diversify the Nigerian economy, in line with the National Digital Economy Policy and Strategy for a digital Nigeria,” the statement read.
“Nigeria’s startup ecosystem attracted about 35 per cent (estimated at $1.4billion) of the over $4billion raised by African startups, which is the highest raised by any startup ecosystem on the continent.
“The Nigeria Startup Bill was earlier approved by the Federal Executive Council and forwarded to the National Assembly and the process is about 90% complete.
“The approval of the incentives at the council will consolidate the gains recorded for far in the NSB process.
“The implementation of the National Digital Economy Policy and Strategy emphasises the importance of the innovation and startup ecosystem to the development of an indigenous digital economy.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
