Nigeria’s tech scene is officially “grown-up” now. We’ve moved past the early days of the ’90s into an era of billion-dollar unicorns, massive acquisitions, and funding rounds that make headlines globally. But let’s be real: growing a business is hard, and growing one in Nigeria is like playing a video game on “Hard Mode.”

To keep this momentum going, there’s a need for more than just grit; but laws that actually guide operators instead of slowing down. That’s where the Nigeria Startup Bill comes in. It’s essentially a roadmap to make sure the government and tech founders are finally on the same page. We sit with Adegoke Oyeniyi to get a better understanding of this exciting development.

Why do we even need this Bill in the first place?

Look, Nigeria’s techpreneurs have world-class ambition, but the environment hasn’t always been friendly. We’ve seen “vibes and regulations” wipe out bike-hailing startups overnight and make crypto transactions through banks a headache. These setbacks and losses in millions of dollars of investor funds make people ask, “Can a startup actually survive here?” The Bill is here to create a “safe space” where innovation can actually breathe and grow, helping the whole economy in the long run.

What’s the plan to make this different from other laws?

This isn’t just a copy-paste job from other countries. While places like Tunisia and Senegal have their own startup acts, Nigeria is a different beast. The creators are focusing on the ground reality here—where it actually hurts for local founders. The government, including the Presidency, has acknowledged that young Nigerians are our biggest resource, and they’re partnering with the tech community to build this from the bottom up.

Is the tech community actually involved in writing this?

Absolutely. It would be a waste of time to write a law for startups without talking to the people actually building them. Suggestions have been collated from the ecosystem to ensure the bill addresses real-life problems. It’s a collaborative effort between the government and the private sector to change the “startups vs. regulators” narrative.

What is the timeline for getting this done?

The whole process was designed to be a sprint, not a marathon. It kicked off in June 2021 by hashing out a first draft with tech leaders, then moved straight into a pulse check in July with government bigwigs to make sure the plan was actually doable. And then by August, to take things to the streets with town hall meetings across the country to get feedback from real founders, followed by a final round of polishing in September. The goal was to have the whole thing packaged up as an Executive Bill and on the President’s desk by October 2021 so the National Assembly could make it official law. But it has not panned out that way just due to logistics and little bottlenecks here and there. The most important thing is that progress is being made.