Chamber seeks implementation of startup-growth policies

The Director General of the Franco-Nigeria Chamber of Commerce and Industry (FNCCI), Moses Umoru, has advocated the implementation of policies that would grow startups.

Umoru said the chamber has seen many regulations set up by the government but the implementation process seems to be slow.

He stated this at the startup conference and pitch tournament organised by the chamber as part of a programme for the 2024 French Week.

Umoru said the contribution of the start-ups to the Nigerian economy, as a large GDP figure, the start-ups contributed close to 60 per cent of Nigeria’s GDP at the moment.

He said Nigeria boasts of a very young population, stating that having young people who are innovators is key to growing the economy.

According to him, startups are key for multilateral trade, including between Nigeria and France.

He said the chamber has partnered with French techs in Lagos to organise the event to showcase startups within the Nigerian economy.

“And we have already seen that irrespective of the volatile economy we have in Nigeria, the tech startups are thriving. We congratulate the government on the Startup Act, a fantastic piece of legislation. But what we want to look at it is beyond legislation; we want implementation,” he said.