The National Information Technology Development Agency (NITDA) has officially inaugurated the Startup Consultative Forum (SCF). The forum is part of the government’s dedication to the implementation of the Nigerian Startup Act (NSA) of 2022.
The newly established forum is intended to function as a central platform for synergy and the cultivation of new ideas.
It unites a diverse array of stakeholders, including officially recognized startups, accredited Entrepreneurship Support Organisations (ESOs), angel investors, and venture capitalists.
Launched by NITDA, the SCF is specifically designed to stimulate discussions and encourage strategic alliances within Nigeria’s expanding startup ecosystem.
The forum will offer a space for stakeholders to deliberate on major issues, share insights, and investigate investment prospects that align with the objectives of the NSA.
In his address, Malam Kashifu Inuwa, NITDA’s Director-General, represented by Emmanuel Edet, Acting Director of the Regulation and Compliance Department, asserted the significance of the Startup Act beyond its legislative status.
“The NSA represents a new social compact, where startups are not merely participants but are core architects of our economic future,” Inuwa said.
“This forum will ensure that policy keeps pace with innovation, evolving alongside it to enhance the digital economic future of our country.”
Inuwa also pointed to NITDA’s efforts over the preceding eight months in creating nationwide awareness regarding the provisions of the NSA, which has paved the way for the SCF’s establishment.
The agency’s commitment to a governance approach grounded in dialogue, data, and inclusivity was also mentioned, alongside its dedication to achieving tangible results for Nigeria’s startup ecosystem.
SCF: A Hub for Policy Dialogue and Innovation
Mr. Oladejo Olawunmi, Director of the IT Infrastructure Solutions Department, also addressed the attendees, outlining the SCF’s vital role in fostering collaboration and strategic action. He said the forum “will serve as an essential space for policy dialogue and will drive the exchange of information critical to fostering innovation”.
Ms. Victoria Fabunmi, National Coordinator of the Office for Nigerian Digital Innovation (ONDI), emphasized the critical role of startups as engines for job creation, the development of new ideas, and the provision of solutions.
She stated that the SCF’s focus would be on key areas such as funding, policy regulation, and global competitiveness, ensuring the forum acts as a unified force within the ecosystem.
The Startup Consultative Forum, established under Section 12 of the Nigerian Startup Act, will also provide important updates on available incentives and facilitate the nomination of representatives to the National Startup Council.
The Act, signed into law in October 2022, aims to establish a strong legal framework for startups, providing access to seed funding, regulatory assistance, and other essential benefits.
Through the SCF, NITDA intends to tackle regulatory obstacles, improve investment channels, and identify new opportunities for startups, thereby positioning Nigeria’s digital economy for sustained growth and international competitiveness.
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