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President Buhari signs Nigeria Start-Ups Bill into law

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President Buhari signs Nigeria Start-Ups Bill into law

President Buhari signs Nigeria Start-Ups Bill into law

President Muhammadu Buhari has signed into law the Nigeria State-up Bill 2022.

The Minister of Communications and Digital Economy, Prof. Isa Pantami, confirmed this to State House correspondents shortly after the president appended his signature on the bill to become an Act.

According to Pantami, the new Act will come into effect with so many economic benefits for the country.

“On behalf of my principal, the President of the Federal republic of Nigeria, Muhammadu Buhari, I am here to brief you about his assent to the Nigeria Start-Up bill today, being Oct. 19, 2022.

“The President has assented to the bill and also conveyed to the relevant institutions of government for gazetting.

“We are all excited knowing the benefits that our economy is going to generate from the Act,” he stated.

Pantami explained that the bill, which emanated from the executive arm of government, was passed by the Senate on July 27 and the House of Representatives on July 28, 2022.

He said the bill was the outcome of engagements with young innovators and start-ups across the country.

“This bill was an executive bill that was initiated by the President through the office of his Chief of Staff in collaboration with the Ministry of Communications and Digital Economy.

“The two offices coordinated and established the foundation for the Nigeria Start-up Act 2022.

“The approach we adopted was to allow our young start-ups, our young innovators all over the country to identify the challenges they were confronted with in regards to intellectual property, financing, regulation and incentives, among others.

“So, young innovators were engaged across the country through their geo-political zones, where we encouraged them to voice out their challenges with regards to the ease of doing business.

“And from their inputs, we discovered there was the need to have Nigeria start-up Act in place so that it will provide the enabling environment for them to continue to thrive and be successful,” he added.

The minister noted that the digital economy sector had contributed a lot to the economy of Nigeria, adding that in the first quarter of 2020, the ICT sector contributed 14.72 per cent to the nation’s GDP.

“In 2021, this administration set up a new record by contributing 17.92 per cent to our GDP; this year in the second quarter of 2022, another record was set, with the ICT contributing 18.44 per cent to our GDP. These are all new records,” he said.

According to the minister, the new law will now provide the legal and strategic framework for the growth of the sector.

It also provides for the establishment of a Presidential Council to be called the National Digital Innovation and Entrepreneurship Council, to be chaired by the President, with the Vice President of the country as Vice Chairman.

He said that the Minister of Communications and Digital Economy would preside over the council in the absence of the president and vice-president.

He added that the ministers of Finance, Budget and National Planning; Industry, Trade and Investment; Science and Technology, among others, are members of the council.

According to Pantami, there are provisions for a minimum investment fund of N10 billion and other incentives that will be disbursed to start-ups to encourage them.

President Buhari signs Nigeria Start-Ups Bill into law

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Military

“GOODBYES ARE NOT THE END, BUT THE BEGINNING OF NEW JOURNEYS,” SAYS MAJOR GENERAL MAINA………as He Hands Over to Major General UM Alkali, the 7th Commandant of AWCN

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“GOODBYES ARE NOT THE END, BUT THE BEGINNING OF NEW JOURNEYS,” SAYS MAJOR GENERAL MAINA………as He Hands Over to Major General UM Alkali, the 7th Commandant of AWCN

By: Hashimu Saad

The Army War College Nigeria (AWCN) witnessed a memorable leadership transition on 22 January 2025, as Major General Ishaya Maina handed over the leadership to Major General Umar Mohammed Alkali, the 7th Commandant of the institution. The ceremony, held at the College Conference Room in Asokoro, Abuja, marked the end of an impactful tenure for Maj Gen Maina and the beginning of a new chapter for AWCN.

In his valedictory address, Maj Gen Maina reflected on his tenure, which began on 30 June 2023, describing it as a challenging yet rewarding journey. Expressing gratitude, he acknowledged the Chief of Army Staff (COAS) for granting him the opportunity to contribute to training operational-level leaders in line with the COAS’s Command Philosophy:

“To consolidate the transformation of the Nigerian Army towards bequeathing a well-motivated and combat-ready force that can effectively discharge its constitutional responsibilities within a joint and multi-agency environment.”

Maj Gen Maina extended his appreciation to the College Governing Council, the Chief of Training (Army), and other Army Headquarters Principal Staff Officers for their critical support, which enabled AWCN to fulfill its mission of producing well-trained, educated, and inspired operational leaders for the Nigerian Army.

Addressing the College staff, he urged them to offer the same unwavering support to the incoming Commandant, Major General Umar Mohammed Alkali.

In his remarks, Maj Gen Alkali expressed his deep appreciation for the trust reposed in him to lead such a prestigious institution. He pledged to continue building on the foundation laid by his predecessors, emphasizing the importance of teamwork, innovation, and a forward-looking approach.

“The Army War College Nigeria holds a strategic role in shaping the operational leadership of our Army. I am committed to ensuring that we sustain and enhance the standards of excellence that this institution is known for. Together, we will forge new paths, introduce cutting-edge methodologies, and strive for transformative outcomes in the training and education of our operational leaders.”

He called on the faculty and staff to maintain their dedication and professionalism, as their contributions are vital to achieving the College’s objectives.

The event featured several key moments, including a tour of the College facilities, the signing of handing-over notes, the ceremonial transfer of the College flag, the presentation of souvenir, and a group photograph.

As he bid farewell, Maj Gen Maina left the audience with an inspiring message: “Goodbyes are not the end, but the beginning of new journeys.”

“GOODBYES ARE NOT THE END, BUT THE BEGINNING OF NEW JOURNEYS,” SAYS MAJOR GENERAL MAINA………as He Hands Over to Major General UM Alkali, the 7th Commandant of AWCN

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Ogidigben $20 billion Gas Project: Nigeria Receives Investment Commitment from Chinese Firm

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Ogidigben $20 billion Gas Project: Nigeria Receives Investment Commitment from Chinese Firm

By: Michael Mike

The federal government has received a commitment from a Chinese firm, China National Chemical Engineering International Corporation Ltd (CNCEC), to support the development of the $20 billion Ogidigben Gas Project in partnership with Nigerian stakeholders in a restructured funding partnership.

The commitment was given to the Director-General of the Nigeria-China Strategic Partnership (NCSP) Joseph Tegbe who is presently leading a team to China to market Nigeria and its opportunities for investment.

A press statement on Monday read that Tegbe held strategic sessions with renowned Economist and former World Bank Director Prof Justin Lin Yifu, who pledged support for the NCSP office in areas of policy implementation, reforms, and attraction of Chinese investments.

The Director General delegation was also hosted by China National Chemical Engineering International Corporation Ltd (CNCEC), whose President Li Zhenyi, expressed his company’s commitment to contributing to Nigeria’s economic growth through construction and industrialization specifically their strong desire to support the development of the $20 billion Ogidigben Gas Project in partnership with other Nigerian stakeholders in a restructured funding partnership.

The Director-General acknowledged CNCEC’s technical capabilities and their previous accomplishments; and also reiterated the bold and audacious support of President Bola Tinubu on the major developmental projects across Nigeria as national priority to fast track the nation’s industrialization.

Tegbe’s visit to China was as part of the Forum on China-Africa Cooperation (FOCAC) projects coordination, and investment drive, and he has continued to have strategic engagement with key Chinese stakeholders to deepen the bilateral cooperation. The visit aimed to review priority FOCAC projects, explore innovative funding options, and attract major Chinese investments into Nigeria.

In Beijing, the Director-General met with representatives from China EXIM Bank and China Development Bank to discuss accelerated delivery of priority projects. The delegation also visited the China Communications Construction Company (CCCC) Headquarters, where they toured a 2.5 million eggs-per-day production poultry farm, a visit to the firm aimed at assessing the feasibility of replicating similar projects in Nigeria using innovative funding models, such as the part contractor-financed, BOT, among others as recently adopted in other China financed projects.

During the visit, the delegation moved to Xinjiang where they visited TBEA, the number 1 electricity corporation in China and leading power transmission enterprise. They discussed status of their project and explored investment options and opportunities in mini and microgrid solutions to enhance Nigeria’s power sector.

The delegation’s next stop was at Shanghai where they made a courtesy call to the Nigeria Consulate in Shanghai, engaging in productive discussions about trade and investment opportunities in the region. These conversations focused on facilitating growth in key areas and exploring ways to enhance cooperation between the Consulate’s trade mission and the Director-General’s office.

The delegation thereafter visited the impressive Yangshan Deep-Water Port, also known as Shanghai Port. This massive port is currently the largest in the world, was constructed by China Harbor Engineering company, who also constructed the Lekki Deep Sea Port in Nigeria. The port
boasts an incredible capacity of 51 million twenty-foot equivalent units (TEUs). During their visit, the delegation had the opportunity to cross the remarkable 35-kilometre bridge, specifically designed for the evacuation of men and materials from the port. This bridge is a testament to China’s impressive engineering capabilities.

According to the statement, before leaving China, the delegation is expected to engage key players in Chinese economy in Shenzhen, and Guangzhou to facilitate and fast-track FOCAC project implementation through familiarization and feedback sessions with the relevant participating companies.

The statement added that “the ongoing visit is part of the Nigeria-China Strategic Partnership’s efforts to strengthen bilateral relations and promote economic cooperation between the two nations, an initiative that aligns with President Bola Tinubu’s vision for Nigeria’s economic growth and development, particularly in areas such as infrastructurb development, technology transfer, and job creation.

Ogidigben $20 billion Gas Project: Nigeria Receives Investment Commitment from Chinese Firm

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AT 2025 WEF, VP Shettima Markets Nigeria, Africa As Investment Destination

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AT 2025 WEF, VP Shettima Markets Nigeria, Africa As Investment Destination

** Says Africa Has Indeed Woken Up

By: Our Reporter

Vice President Kashim Shettima has said serious investors can now take unfettered advantage of Nigeria’s growing investment climate to tap from the limitless opportunities in the country and the African continent.

VP Shettima spoke on Tuesday during a forum titled, “Roadmap to Co-create Investment Opportunities for Africa’s Frontier Markets,” at the ongoing annual meeting of the 2025 World Economic Forum ( WEF) in Davos, Switzerland.

At the session which was co-chaired by Mirek Dusek, Managing Director of World Economic Forum, and chaired by Marie-Laure Akin Olugbade, Senior Vice President, African Development Bank (AFDB) group, discussions focused on the Humanitarian and Resilience Investing Roadmap for Africa.

He told the forum that the tales they hear about the country and the African continent as a whole are really not that of doom and gloom as being painted by doomsday proponents.

The Vice President noted that Nigeria is poised to invade the global business platform with modernisation and robust investments, assuring that President Bola Ahmed Tinubu, a seasoned chartered accountant, is working to make the nation an investment destination in Africa.

“For 20 years, I have been in the Nigerian banking industry. I was a general manager in Nigeria’s largest bank, Zenith Bank. I grew up in that ecosystem. The President himself is a seasoned chartered accountant. So, I believe that Nigeria is ready for business, Nigeria is ready to embrace the path of modernization with very robust investment,” he declared.

Acknowledging however that the nation may still have certain deficits, VP Shettima pointed out that Nigeria is looking up to the African Continental Free Trade Area (AfCFTA) to address the challenges.

He stated: “We are having a huge deficit but we are looking forward to the AfCFTA and that involves investing in infrastructure for instance the coastal highway from Calabar to Lagos is the largest single investment in Africa. We are building corridors to the North.

“We have the West African gas pipeline. We are thinking ahead of time akin to the Belt and Road Initiative. We are partnering with 14 African countries to invest in gas infrastructure down to Morocco.”

Senator Shettima insisted that Africa is not all about tales of doom and gloom, maintaining that the continent has woken up from its slumber.

Likening Napoleon Bonaparte’s opinion about China to the case of Africa, the VP said, “So, Your Excellencies, ladies and gentlemen, the stories you hear about Africa are not that of doom and gloom. From DRC to Somalia, South Africa, Egypt, Ethiopia, Ghana, and Cote d’Ivoire, Africa is waking up from its slumber.

“I remember what Napoleon Bonaparte said about China, he said “China is a sleeping giant but when she wakes up, she will rattle the world”. So, Africa has woken up and we will take our rightful place in the comity of nations because as I said earlier, the trajectory of global growth is facing Africa. We are the youngest continent.”

Also drawing a leaf from the late Nigerian head of state, Gen. Murtala Mohammed, VP Shettima said Africa has come of age and can no longer be treated like an adolescent.

“I want to quote Murtala Mohammed – a Nigerian military leader at an extraordinary summit of the OAU, about 50 years ago. He said “Africa has come of age, it is no longer under the orbit of any extra-continental power, and it shall no longer take orders from any country, however powerful,” he concluded.

Meanwhile, in a show of African leadership collaboration at the World Economic Forum in Davos, Nigeria’s Vice President, Senator Shettima, on Tuesday joined South African President, Cyril Ramaphosa, as special guest of honor at a high-level briefing, following his earlier participation in the Africa Investment Forum.

….VP Shettima, Botswana’s President Hold Talks

  • Meet WTO DG, Okonjo – Iweala

Similarly, Vice President Kashim Shettima and the President of Botswana, Duma Boko, on Tuesday held a bilateral meeting where areas of mutual interest between both countries were discussed.

The meeting, which took place on the sidelines of the World Economic Forum 2025 in Davos, Switzerland, is part of Nigeria’s commitment to fostering stronger intra-African relations and economic cooperation.

Both leaders emphasized the importance of leveraging their countries’ strengths to promote mutual growth and development.

The Vice President, who congratulated President Duma Boko on his election victory, called for deeper partnerships and collaborations between African nations, saying it is time Africa united and presented a common front on interests regarding the continent.

During the meeting, Vice President Shettima welcomed the Director General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, introducing her to the Botswana President.

The Vice President commended Dr. Okonjo-Iweala’s exceptional achievements, describing her as one of Africa’s finest.

Other areas of interest discussed between the two leaders included trade, investment and strengthening of diplomatic ties.

AT 2025 WEF, VP Shettima Markets Nigeria, Africa As Investment Destination

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