President Muhammadu Buhari, on Wednesday, signed the startup bill into law.

Isa Pantami, minister of communications and digital economy, disclosed this in a post via his official Twitter handle.

The bill seeks to create and develop an enabling environment for technology-enabled startups in the country.

The new legislation aims to provide a legal and institutional framework for the development of startups in Nigeria, and to provide an enabling environment for the establishment, development and operation of startups in Nigeria.

According to the document, startups can also access a special seed fund created under the law. The fund will provide labelled startups with finance and relief to technology laboratories, accelerators, incubators and hubs.

In July 2022, the senate passed the Nigerian startup bill 2022 following a report by its committee on ICT and cyber security.