A tech expert has urged the federal government to do more in tackling the hurdles entrepreneurs face in addition to the newly assented Startup Act.
VELOXNEWS recently learnt this in an exclusive chat with the Executive Vice President/Partner Hotspot Network Limited, Mr Charles Iyoha.
Reacting to the opportunities and challenges facing the Nigeria tech-sphere, Mr Iyoha commended the resilience spirit of Nigerian youths for striving despite the harsh economic realities.
According to him, the Startup Act signed by President Muhammadu Buhari in October last year holds a lot of benefits for Nigerian youths but Nigerians await its implementation.
“The Act looks very good on paper and in theory. However, the government still has a lot to do in this area. There is not much I can say about it now, as it was only signed into law less than a month ago. We are yet to see what or if any effects in the tech-sphere.
“The truth is that Startup/entrepreneurship is very hard in Nigeria. When you are not suffering from a lack of funding sources, the state and local governments chase you with double and sometimes triple taxation. Or lack of primary education in our higher institutions – we don’t train our students to be entrepreneurs; They are taught how to graduate and find a job. Let’s start training kids from high schools on how to Startup and run small businesses. The action will go a long way to changing the present mindset and making the next generation the entrepreneurial generation.
“Having said that, I applaud Nigerian youths for their resilience; mostly, they think out of the box despite little or no training to establish their thriving businesses. It has led the government to take the first step in drafting and passing the act into law. However, a lot has to be done to take out obstacles and hindrances that have always plagued startups in Nigeria”, he stated.

The Startup Act is expected to stimulate the Nigerian tech space with capitalization through the provision of seed funding for tech entrepreneurs by the Nigerian Sovereign Investment Authority.



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