BUSINESS

NITDA Canvasses Joint Action To Unlock Startup Act Benefits

The National Information Technology Development Agency (NITDA) has urged stronger inter-agency collaboration to ensure effective implementation of the Nigerian Startup Act (NSA) and deliver real benefits to entrepreneurs and investors.

The call was made at the NSA Incentives Activation Co-Creation Session in Abuja, organised by NITDA’s Office for Nigerian Digital Innovation (ONDI).

Representing the DG, Kashifu Inuwa Abdullahi, ONDI Coordinator Victoria Fabunmi said Nigeria must move from policy to implementation, stressing that the Act’s success depends on its impact on startups.

He noted that while structures like the Startup Consultative Forum and the digital portal have been created, the key test is whether founders can easily access incentives.

Inuwa called for collaboration among MDAs and private sector players to remove bottlenecks and improve access to opportunities, noting that the Act spans multiple sectors and requires coordinated implementation.

ONDI’s Elma Andah said the Act offers over 31 incentives across tax, funding, regulatory support, trade, ecosystem development, and capacity building, requiring coordination among more than 15 agencies.

She added that Nigeria’s startup ecosystem, with over 3,000 startups, raised about $410 million in 2024 despite economic challenges.

Andah stressed that no single agency can implement the Act alone and urged clearer roles, better coordination, and stronger accountability.

The session identified gaps and explored ways to improve access to incentives for startups and investors. NITDA said the outcomes will help strengthen implementation and support startup growth and global competitiveness.

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