At the Nigerian Economic Summit held recently in Abuja, President Bola Tinubu, represented by his VP Kashim Shettima, made a major pledge to improve Nigeria’s power infrastructure, aiming to reconnect large industrial players back to the national electricity grid. Nigeria’s power supply has been unreliable for years, forcing many businesses – including telecommunications, manufacturing, and large conglomerates – to rely heavily on costly diesel generators. For instance, IHS Towers, which operates 16,000 telecom sites across Nigeria, recently revealed that 70% of their operating time is powered by diesel due to an unreliable grid. This dependency drains resources that could otherwise be invested in innovation and expansion. During the summit, President Tinubu emphasized that a stable and reliable power supply is central to Nigeria’s plan for industrial recovery and economic advancement. “Improving the national grid and bringing key industrial players back online is essential for economic growth and job creation,” he stated. The Dangote Group, Africa’s largest conglomerate, has been among the major companies operating off-grid, relying on private power solutions due to inconsistent electricity. Restoring grid access for such firms is expected to vastly reduce their operating costs and improve competitiveness. Officials and experts present highlighted that this power challenge affects not only large firms but also the entire economy, including startups and the growing technology sector, which depends on steady electricity to innovate and scale. Also, representatives from the Nigerian Electricity Regulatory Commission (NERC) noted that addressing power issues is critical to attracting investments and fostering industrial innovation. Meanwhile, the government has announced ongoing reforms that include upgrading transmission infrastructure, encouraging private investments in power generation, and reviewing tariffs to support sustainable electricity delivery. These initiatives aim to curb the reliance on diesel generators, which contribute to pollution and higher costs for businesses.

In a significant step toward operationalizing the Nigeria Startup Act, the National Information Technology Development Agency (NITDA) has appointed four prominent startup ecosystem leaders to the National Council for Digital Innovation and Entrepreneurship (NCDIE). The appointments, announced on October 5, 2025, aim to ensure that founders and innovators have a direct voice in shaping Nigeria’s startup policies and digital innovation landscape. The named representatives are Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave and founding partner at Future Africa; Victoria Ojoagefu Manya, executive director of Advocacy for Policy and Innovation; Charles Uchenna Emembolu, founder of TechQuest; and Abba Ibrahim Gamawa, founder of Go Agent Limited. They were elected through the Startup Consultative Forum (SCF) and will serve two-year terms on the council, charged with contributing to policy formulation and monitoring the implementation of the Startup Act’s objectives. The Nigeria Startup Act, signed into law in October 2022, provides a legal and institutional framework to drive the growth of tech startups, promote investment, reduce regulatory burdens, and foster capacity building and innovation. The formation of the NCDIE and inclusion of startup leaders on the council mark critical milestones in bringing Nigeria’s fast-growing tech ecosystem into policy and regulatory alignment. According to NITDA, the council’s work will help guarantee that innovation efforts translate into meaningful social and economic impacts nationwide. “The four representatives will ensure that ecosystem voices are heard directly in national policymaking,” NITDA said. “This progress underlines the agency’s commitment to enhanced collaboration among government, private sector, academia, and stakeholders to build a brighter digital future.” The appointments come as the Office for Nigerian Digital Innovation (ONDI), under NITDA, reports progress on startup labelling – with 75 startups registered on the government portal – and the establishment of a $40 million Startup Investment Seed Fund to bridge funding gaps. The fund has secured $20 million from the Japan International Cooperation Agency (JICA), with the Nigeria Sovereign Investment Authority expected to match the remaining amount.

Beginning January 2026, Nigeria will require remote workers and freelancers earning from foreign companies to pay personal income tax on these earnings, with rates reaching up to 23%. This move forms part of the government’s efforts to widen the tax net, increase revenue, and align tax policy with the rapidly growing digital economy. In June 2025, President Bola Tinubu signed landmark tax reforms into law that explicitly include remote workers and freelancers in Nigeria’s tax system. The reforms stipulate that residents of Nigeria must declare and pay taxes on income earned regardless of whether the money is brought into the country, effectively taxing global income for tax residents.  Remote workers earning foreign income will be subject to a progressive tax regime, with annual taxable income rates reaching a maximum of 25%, while many freelancers can expect to pay around 23% after allowable deductions. Freelancers and remote employees working for foreign clients must self-assess and file annual tax returns since foreign employers typically do not withhold Nigerian taxes on their behalf.  Failure to comply with tax registration and filing requirements will incur increasing fines, starting at ₦50,000 ($33.59) for failure to register and ₦100,000 ($67.19) for failure to file in the first month, escalating with continued non-compliance. False declarations may lead to fines up to ₦1 million or three years imprisonment.