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Presidency, FMCDE, and MDA s hold high-level consultation on the Nigeria Startup Bill
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From Supa Strikas to Startups, Tomi Davies approach to Angel Investing
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Alexander O. Onukwue
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Adewale Yusuf, the founder and former publisher of Techpoint, made what many saw as a bold move last year.
Not only did he swap the uncertainty of tech media for the vulnerability of founding a tech startup, he chose Ile-Ife, a town 200 km removed from the chaos of Lagos, as the “quiet location” for his new adventure.
Yusuf took one Techpoint colleague, one Jobberman co-founder and a couple other people with him to start TalentQL, an outsourcing firm for companies in need of quality software developers.
“Hire top vetted technical talent across Africa quickly and seamlessly,” their website says. Part of the plan was to produce talents by building campuses that house coworking spaces, with dependable electricity and Internet.
Alexander O. Onukwue
14th May 2021 Nigeria Vice President Yemi Osinbajo with members of the Paystack team at their Lagos office in April 2018
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One landmark acquisition, several funding rounds and meaningful expansions have drawn attention to Nigeria’s potential to become an enabling environment for businesses. Nigerian tech startups are raising larger seed rounds and pursuing unique global ambitions than at any other time in the last decade.
But in the last 18 months, major regulatory events that ended motorcycle-hailing and suspended cryptocurrency transactions through banks have been interpreted as setbacks to innovation.
One problem with these types of regulations is how sudden they are, seemingly without forewarning from the hammer bearers. They raise an unambiguous question: can startups really flourish in Nigeria?