Frankfurt (Germany) and Lagos (Nigeria), October 2021. GreenTec Capital CIO Tomi Davies (TD) participated in Nigeria’s National Startup Bill (NSB) Learning Series webinar titled Incentivising and protecting investment in Innovation. This was the first of four webinars organised by the NSB on topics related to proposed legislation in Nigeria. NSB is a joint initiative by Nigeria’s tech startup ecosystem and the Nigerian President, Muhammadu Buhari, to harness the potential of Nigeria’s digital economy through co-created regulations.
TD emphasised the importance of local, Nigerian investors. He said “There needs to be incentives for local investors to invest in startups. Without local investors, we can’t build the startup ecosystem properly.”
TD spoke about the National Startup Bill’s importance to the future of Nigerian startups. He said “Government intervention is critical to the future success of Nigerian startups. Government needs to look at the startup ecosystem as a ‘development asset class’ and not an ‘investment asset class.’”
The NSB submitted its Bill this month to the Nigerian President who will submit an Executive Bill to the National Assembly. This webinar was the first of four in the NSB Learning Series. The following webinars will focus on regulation, talent and finally, infrastructure.