New bill will see Lagos join the ranks of states domesticating the Nigeria Startup Act
- The Lagos State Government is drafting the 'Lagos Innovation Bill' to adapt the provisions of the Nigeria Startup Act to mirror the realities of running tech startups in the state.
- Lagos State receives 70% to 80% of all innovation funding in Nigeria.
- The Lagos Innovation Bill aims to support stakeholders in innovation, including government institutions, startups, large companies, universities, and research institutions.
The Lagos Innovation Bill is a significant step by the Babajide Sanwo-Olu-led government to foster innovation and drive digital economic growth in Lagos State. By adapting the Startup Act to the unique needs of tech startups in Lagos and providing support for stakeholders in innovation, the bill has the potential to further establish Lagos as a leading hub for technology and entrepreneurship in Nigeria.
