The Nigeria Startup Act, which aims to assist startups and new enterprises and increase economic development in Nigeria and Africa, is being adopted by the Kwara State Government.
This adoption occurs at a time when the tech sector in Nigeria and Africa is expanding at a rate that has never before been seen. Numerous young, creative tech talent is emerging and garnering sizable investments from both domestic and foreign businesses.
Kwara State is in a unique position to gain from the implementation of the Startup Act thanks to its enormous pool of youthful, tech-savvy individuals.
The Act would give these young innovators the resources they need to become tech-savvy, expand their enterprises, and generate jobs, making Kwara State a hotspot for technology and innovation in Nigeria and Africa in the long run.
Stakeholders from Kwara State, including government representatives, startup entrepreneurs, academia, students, and the press/media, recently convened to discuss the localization of the Startup Act.
Kwara State Commissioner for Finance Mrs. Olasumbo Oyeyemi, Executive Chairman of the Kwara State Internal Revenue Service (KWIRS), Mrs. Shade Omoniyi, and a representative of the Kwara State Commissioner for Business Innovation & Technology Alhaji Ibrahim Sanni were among the dignitaries present at the Nigeria Startup Act Engagement event. Other attendees included Kamaldeen Ibrahim, the head of Kwarabuild, the largest IT community in Kwara State, and the dean of Kwara State University.
On how to guarantee the act’s successful adoption in the state, discussions were held during the Stakeholder Ecosystem Engagement event in Ilorin.
The Act, according to the stakeholders, will give the young, tech-savvy business owners in the state the foundation they need to expand their operations, bring in new clients, and generate employment. It will also encourage innovation in other facets of the state’s economy.
The Ilorin Innovation Hub’s managing director, Temi Kolawole, stressed the significance of the Startup Act in generating employment prospects for young people in the state.
Discussions about how to secure the act’s successful adoption in the state took place during the Stakeholder Ecosystem Engagement event in Ilorin.
According to the stakeholders, the Act will give the state’s young, tech-savvy entrepreneurs the foundation they need to expand their companies, generate employment, and promote innovation across the state’s economy.
The Startup Act is crucial for providing work prospects for young people in the state, according to Temi Kolawole, managing director of the Ilorin Innovation Hub.
“Kwara State will also be establishing a Council on Startup Entrepreneurship and Innovation/Technology to serve as the driving force in implementing the Kwara Startup Act and supporting startups in the state moving forward.”
Governor Abdulrahman Abdulrazaq has consistently demonstrated his commitment to providing opportunities for youth empowerment, job creation, and economic growth in Kwara State, according to stakeholders at the event.
The adoption of the Nigeria Startup Act is a significant step towards achieving this goal, and the government will work with all stakeholders to ensure its successful adoption within the next six months, said Kolawole.
He added: “In addition, the Ilorin Innovation Hub recently hosted an E-Government Hackathon, which was planned to encourage young people to collaborate, build teams, and create innovative solutions and products that will enhance e-governance and service delivery in Kwara State. It is the first of many such events to come that will be expanded into other areas of technology like Artificial Intelligence, Fintech, Agritech, and many more. The hackathon brought together talented developers, designers, entrepreneurs, and tech enthusiasts based in Ilorin and around the country to build solutions that address key challenges faced by government agencies and the citizens of Kwara State.
“The government of Kwara State is grateful to all the stakeholders who have started the process of adopting the Nigeria Startup Act, and we look forward to working with all our partners.”