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Lagos begins Start up Act 2022 implementation process
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.
Mr Joshua Ibitomi, the Area Commander of Federal Road Safety Corps (FRSC),
Ibeju-Lekki, Epe Division, Lagos State, has warned truck drivers against speeding and reckless driving.
He gave the warning in an interview with the News Agency of Nigeria (NAN) in Ibeju-Lekki on Tuesday.
The FRSC official, who blamed speeding on the ghastly vehicle accident that occurred at Aiyetoro market in Epe
which claimed several lives and left some injured, said that with careful driving, such accident could be avoided.
He added that “the accident was as a result of speeding, reckless driving and loading of truck beyond its capacity.
“All these are factors responsible for accident when drivers are not conscious of the driving rules.
“Vehicle can develop technical fault at any time, therefore, speed limit and caution need to be applied while driving.”
He said FRSC had been sensitising drivers on the need to install speed limit device and be road conscious while driving, in line with the mandate to instill decent use of road.
Ibitomi also advised passers-by and the public to be safety conscious while walking on roadsides to avoid falling victim of accidents.
He attributed major road crashes on roads to speed limit violation, urging drivers to respect the sanctity of human life by obeying traffic rules.
He added that the FRSC had evolved measures to ensure accident-free yuletide and new year festivities in 2024
Jubilant supporters celebrated Donald Trump’s apparent victory in Florida early Wednesday as he claimed a return to the White House, despite most major news networks holding off on officially calling the race.
At an event in Palm Beach, Trump supporters reveled in the win projected by Fox News, cheering as the former president declared a “political victory that our country has never seen before.”
“I feel extraordinary,” said 68-year-old supporter Ted Sarvanis, dancing with arms in the air. “This is the greatest American political story in the history of the country.”
Joined by running mate J.D. Vance, Trump took the stage, celebrating his projected win. The atmosphere at the convention center was electric, with supporters sporting “Make America Great Again” caps and mingling in formal attire and Trump-themed clothing.
“I feel relieved. I was a little bit scared because you never know how things are going to turn out,” said Stacy Kurtz, 45.
In contrast, a far different scene unfolded for Vice President Kamala Harris’s supporters at Howard University in Washington, where they were hoping for a Democratic win.
As the night wore on and Trump gained electoral votes in key battleground states, disappointment swept through the crowd.
“I am scared, I am anxious now,” said Charlyn Anderson earlier in the evening.
Democratic watch parties in places like Atlanta and Pennsylvania grew somber as results rolled in, with Lynn Johnson, 65, expressing concern, “It’s going to be dangerous if he wins. I don’t feel safe.”
While Trump’s supporters celebrated a comeback, the mood among Democrats was marked by worry and disbelief.
“He’s a terrible candidate, so it just doesn’t make sense,” said Harris supporter Ken Brown.
The contrasting scenes highlighted the nation’s deep political divide on election night.
President Bola Tinubu has extended warm congratulations to President Donald Trump on his re-election as the 47th President of the United States, expressing optimism for stronger ties between Nigeria and the U.S. in an era of global challenges.
The congratulatory message, issued by Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, emphasises the Nigerian leader’s hopes for a renewed partnership between the two nations.
Following his victory on Wednesday, Trump pledged to “heal” the country, marking a stunning political comeback as he edged past Kamala Harris in a closely contested election.
Tinubu, in his message, affirmed, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.”
Tinubu highlighted that Trump’s return to the White House reflects the trust and confidence of the American people in his leadership, praising their commitment to democracy.
Given Trump’s experience from 2017 to 2021 as the 45th President, Tinubu foresees a new era of “earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.”
The Nigerian President also expressed confidence that Trump’s leadership will contribute to peace and prosperity worldwide, acknowledging America’s significant influence on global affairs.
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