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OVERVIEW OF THE NIGERIAN STARTUP ACT
In the last few years, Nigeria has experienced a rapid shift in technological growth and advancement impacting the
country’s economy positively through
unprecedented investment in the
sector.
According to the Nigerian Startup
Ecosystem Report 2022, it was
reported that Nigeria is Africa’s most
popular investment destination, the
report also revealed that between
2015 and 2022, 383 Nigerian tech
Startups raised a total of $2Billion,
higher than any other country.
It was recorded that in 2015, Nigerian
startups raised a combined
US$49,404,000, and as at the time of
the publication in August 2022,
Nigerian Startups have raised
US$747,908,000 making for over
1400% increase in funds raised in the
period. What is most fascinating is
that Nigeria’s most valuable unicornFlutterwave attracted a 250-milliondollar Series D round funding a record
high funding round.
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