Startup Act, Galaxy Backbone and future of Digital Economy in Nigeria

 The new legislation among other things, aims to provide a legal and institutional framework for the development of startups, and to provide an enabling environment for the establishment, development and operation of startups in Nigeria.

The startup Act, 2022, also makes provision for the development and growth of technology-related talent. With this legislation, companies will be required to obtain a certificate known as the ‘startup label’, before they can be regarded as a startup entity.