In a bid to strengthen Nigeria’s digital economy, the National Information Technology Development Agency (NITDA) has officially inaugurated the Startup Consultative Forum (SCF), reinforcing the government’s commitment to the implementation of the Nigerian Startup Act (NSA) of 2022.
The forum aims to serve as a key platform for collaboration and innovation, bringing together a diverse group of stakeholders including labelled startups, verified Entrepreneurship Support Organisations (ESOs), angel investors, and venture capitalists.
The SCF, launched by NITDA, is designed to catalyze dialogue and foster strategic partnerships within Nigeria’s burgeoning startup ecosystem. It will provide a forum for stakeholders to engage on critical issues, exchange ideas, and explore investment opportunities in alignment with the objectives of the NSA.
In his address, NITDA’s Director-General, Malam Kashifu Inuwa, represented by Emmanuel Edet, Acting Director of the Regulation and Compliance Department, emphasized that the Startup Act was more than just a piece of legislation.
“The NSA represents a new social compact, where startups are not merely participants but are core architects of our economic future,” Inuwa stated.
“This forum will ensure that policy keeps pace with innovation, evolving alongside it to enhance the digital economic future of our country.”
Inuwa also highlighted NITDA’s efforts over the past eight months in raising awareness across Nigeria about the provisions of the NSA, laying the foundation for the SCF’s establishment.
The agency’s commitment to a governance model rooted in dialogue, data, and inclusion was emphasized, as well as its focus on ensuring real-time outcomes for Nigeria’s startup ecosystem.
Mr. Oladejo Olawunmi, Director of the IT Infrastructure Solutions Department, who also spoke at the event, outlined the SCF’s role as a vital platform for collaboration and strategic action.
“This forum will serve as an essential space for policy dialogue and will drive the exchange of information critical to fostering innovation,” Olawunmi said.
Ms. Victoria Fabunmi, National Coordinator of the Office for Nigerian Digital Innovation (ONDI), underscored the importance of startups as drivers of employment, innovation, and solutions.
She highlighted the SCF’s focus on key pillars such as funding, policy regulation, and global competitiveness, ensuring that the forum functions as a cohesive force within the ecosystem.
The Startup Consultative Forum, established under Section 12 of the Nigerian Startup Act, will also provide crucial updates on incentives and facilitate the nomination of representatives to the National Startup Council.
The NSA, signed into law by former President Muhammadu Buhari in October 2022, is designed to create a robust legal framework for startups, offering access to seed funding, regulatory support, and other vital incentives.
Through the SCF, NITDA aims to address regulatory barriers, improve investment pathways, and identify new opportunities for startups, positioning Nigeria’s digital economy for sustainable growth and global competitiveness.