President Bola Ahmed Tinubu has officially presented the National Startup Investment Bill to the National Assembly, a landmark proposal aimed at strengthening Nigeria’s tech ecosystem by providing structured funding, tax incentives, and regulatory support for early-stage startups.

The bill, if passed, will establish a ₦500 billion Federal Innovation Fund dedicated to supporting startups in sectors including fintech, agritech, health tech, and education. It will also introduce startup-friendly policies like reduced corporate tax for new companies, digital ID registration for tech founders, and a fast-track visa program for foreign investors.

Speaking during a joint session of the National Assembly on Friday, Tinubu emphasized the need to “position Nigeria as the Silicon Valley of Africa.”

Also Read: UN Approves Global Digital Citizenship IDs, Replacing All Passports by 2030

“Our youth are building apps that solve real problems. The government must not only celebrate them but empower them to compete globally,” Tinubu said.

The proposal is already receiving attention from tech leaders and investors. Flutterwave CEO Olugbenga Agboola called the bill “a long-awaited signal of serious government commitment to innovation.”

However, critics are raising questions about oversight and transparency in the allocation of funds. Some lawmakers have called for stronger anti-corruption mechanisms to be added to the bill.

Also Read: Peter Obi to Lead New African Economic Reform Alliance Focused on Youth and Innovation

If passed, the Startup Investment Bill will be the most comprehensive technology-focused legislation in Nigeria’s history. Analysts say it could open a new chapter in youth-led economic transformation.

The bill is expected to be debated in both chambers by early June.