CivicI’m exploring support for my startup.
Understand the startup label, eligibility and routes to support.
A starting point, not a complete checklist. These explanations come from Nigeria Startup Act, 2022. Other laws and the details of your situation may also matter.
Draft explanations. Under editorial review; not yet approved for publication.
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Opportunity
An official startup label, valid for 10 years
The label is a certificate that proves your company is a startup under the Act. It is the key to every other benefit on this page.
Conditions & practical details
- Who this applies to
- A CAC-registered limited liability company incorporated no more than 10 years ago, with the digital-technology innovation objects specified in section 13. It must hold or be a repository of a digital-technology product or process, or own or author registered software, and have at least one-third local shareholding held by Nigerian founders or co-founders. Section 13(3) excludes a holding company or subsidiary of an existing company that is not registered as a startup.
- How to use it
- Apply on the Startup Support and Engagement Portal (startup.gov.ng) with the documents the Secretariat asks for.
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Opportunity
Six months of "pre-label" status for sole traders and partnerships
If you have not incorporated yet, you can still get a temporary pre-label while you register as a company and meet the other conditions.
Conditions & practical details
- Who this applies to
- Sole proprietorships and partnerships that meet the technology and Nigerian-ownership conditions.
- How to use it
- Apply through the Startup Portal, then incorporate within six months or the pre-label lapses.
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Benefit
Access to a government Startup Investment Seed Fund
The Act sets up a seed fund, managed by the Nigeria Sovereign Investment Authority, to give labelled startups early-stage finance. At least ₦10 billion is meant to be paid into it every year.
Conditions & practical details
- Who this applies to
- Labelled startups, on the Fund Manager's recommendation and the Council's approval. Tech labs, accelerators, incubators and hubs can also get relief from it.
- How to use it
- Watch for the funding framework the Fund Manager is required to publish.
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Obligation
Labelled startups: report every year
A labelled startup must provide annual headcount, asset and turnover information, keep proper accounts, report annually on incentives and resulting advancement, and notify the Coordinator within one month of changes to its structure, composition or objects. It must also meet the Act’s other compliance and eligibility requirements. After notification of a default, it has 30 days to take steps to rectify it; an unregularised default leads to label withdrawal.
Conditions & practical details
- Who this applies to
- Every labelled startup.
- How to use it
- Put the annual report and the one-month change notice on your compliance calendar.
- When
- Every year; changes to structure or objects within one month
- If you don’t
- Sections 16–17 provide for withdrawal of the label if a notified default is not regularised, with notice to relevant agencies and investors. These sections do not specify a monetary fine; other applicable laws may have separate consequences.