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Lagos begins Start up Act 2022 implementation process

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2023: Gov Sanwo-Olu begins campaign for 2nd term

Lagos State government has organised a policy review workshop to implement the Nigerian Startup Act (NSA2022) policies for the state’s growth.

The workshop, held at Eko Innovation Centre, brought together startup founders, technology experts, innovators and enthusiasts to join the state government in domesticating the policies in the Act.

The event led to the establishment of Knowledge, Innovation, Technology, and Entrepreneurship (KITE) Project, which will equitably localise the Act.
The Act defines Nigerian startups, their scope, operations, incentives and limits to attract foreign investment, and open up the Nigerian tech industry.

A startup, according to the Act, is “a firm that has been in operation for no more than 10 years and whose aims include the invention, innovation, production, development or adoption of a new digital technology creative product, service, or method.”

Interpretatively, the act aims to provide a legal and institutional framework for Nigerian startups, as well as an enabling environment for their establishment, development and operation.
Special Adviser to the Governor of Lagos State on Innovation and Technology, Mr. Tunbosun Alake, said the NSA2022 regulations will assist startups in registering quicker and obtaining permits faster, thereby, boosting the ease of doing business.

“To drive the ecosystem and boost innovation, each state, throughout the federation, needs to adopt distinct legislation that will help foster and deepen startup activity.

“Lagos’ startup policy structure has been in development for some time before the Act. The regulations will assist startups in registering quicker, obtaining permits faster and easing business for commercial organisations classified as startups.
“It is critical for entrepreneurs in the ecosystem to participate in the workshop review to have an impact on the state legislation being drafted. The KITE project, like Silicon Valley, is a state-wide initiative that will create ICT clusters, which will promote innovation throughout the state and benefit the nation’s economy,” Alake said.

The anchor, Mr. Wale Adelaja, said the workshop was organised to allow private sector and government agencies review the policies established in the KITE project. “For an ICT business, cluster or ecosystem to be sustainable, policies to support its longevity are required,” he said.
Head of Lagos State House of Assembly Committee on Science and Technology, Hon. Olanrewaju Suleiman Afinni, at the event, urged private sector stakeholders to look over the law and make it as complete as possible so that it doesn’t need to be changed often.

Founder, Business Africa Academy, Tracy Okoro, one of the private stakeholders, who championed the Nigerian Startup Act movement, acknowledged that the NSA2022 is the result of people’s desire for change and it succeeded because a group of young people came together to champion it.
She said: “We have a volunteer group of over 800 people who drove this from beginning to end without demanding payment. The Act is significant for connecting the government with the business sector.”

The KITE project is expected to significantly contribute to Nigeria’s economic development and position Lagos State as the hub for innovation in Nigeria. Also, as the state is becoming a popular location for technology investors and entrepreneurs, it will enable the state to further push its technology and innovation agenda.

It will begin in Yaba, which will serve as a medium for the government and private sector to create an ICT cluster. Yaba is known as the bedrock of internet-enabled businesses, with over 60 startups and active venture capital firms in residence. It is also a thriving centre for innovation in Nigeria.

By 2030, the Yaba KITE cluster is expected to be Africa’s main source of transformational solutions, propelling the continent’s socio-economic progress via technological leadership, disruptive innovation, and high-quality stem talent. Access to financing, advocacy and marketing, research and development, network and cooperation, talent, skills, education, infrastructure, policy, regulation, and governance are also goals of the KITE initiative.

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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).

The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.

Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.

The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.

Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan's Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.

Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.

“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”

He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.

Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.

In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”

He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.

Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.

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Shettima Warns Media Against Romanticising National Challenges

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Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.

Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.

“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”

The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.

Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.

“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.

The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.

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