A Review of the Nigerian Startup Act, 2022

Abstract

The economy of Nigeria has over the years depended on oil. this over-reliance has made it difficult for the failing economy to have a growth leap and at such the need to incorporate new ideas in the economy can never be overemphasised. The Nigerian Startup Act, 2022 is a piece of legislation that is lauded by many as a panacea to the economic woes of Nigeria if properly and effectively implemented. The objectives of the Act are set to encourage nascent startup companies to grow and as well as attract Foreign Direct Investment and Foreign Portfolio Investment into the country. This work reviews the Act and also made some cogent recommendations to the same.

Keywords: Foreign Direct Investment, Venture Capitalist, Startup, Company