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Nigeria’s Anambra State adopts start-up Act to boost digital economy

By , Nigeria correspondent
Nigeria , 12 Jan 2024
Onyekachukwu Ibezim, Anambra state's deputy governor.
Onyekachukwu Ibezim, Anambra state's deputy governor.

The Nigerian state of Anambra has enacted the Nigeria Start-up Act to promote digital economy in the state, which is regarded as a step forward in technical growth.

Onyekachukwu Ibezim, the state's deputy governor, announced the move this week, emphasising the importance of urgently embracing technology in order to become champions of good disruption and leaders of the global technological revolution.

Ibezim also highlighted the State's human capital development programme, which aims to leapfrog students and youths to become Africa's digital tribe, solving challenges through technology.

Chinwe Okoli, Anambra State's special adviser on innovation and business incubation, declared in her introductory address that the governor is committed to championing the 'everything technology and technology everywhere' goal to convert Anambra into Africa's Silicon Valley.

Okoli went on to say that "adopting the Nigeria Startup Act in the state would create the required enabling environment for startups to thrive in the state."

"The new act in Anambra is projected to provide tax breaks, lessen regulatory burdens, and create funding opportunities. She advocated for cooperation among university, government, business sectors, angel investors, venture capitalists, hub founders, entrepreneurs, and other stakeholders to move the state to the forefront of the global innovation ecosystem.”

Chiamaka Nnake, commissioner for budget and economic planning, added that implementing the Act in the state would protect investors and capital while assuring the long-term viability of enterprises.

The managing director of the Anambra State ICT Agency, Chukwuemeka Fred Agbata, stated that the law reflected the state's realities as well as its competitive advantage.

He argued that given that the state is recognised for commerce, adopting e-commerce is critical. Agbata urged the ecosystem to take joint action, emphasising the need of collaboration between the commercial and public sectors in driving innovation.

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