We all grumble about rules, whether it’s doing the chores at home or obeying road signs while driving. Grudgingly though, we accept that at least some of them are useful and probably necessary. The discussion around government regulation is similar—we can agree that governments should set some form of framework within which we lead our daily lives.
So what does this have to do with the tech ecosystem and its future?
Well, many business leaders might claim that the private sector always leads the way in the boldest innovations that produce the most profound transformations in society. Today, we have three tech startups that have achieved unicorn status in Nigeria. Reports show that venture capital funding for African startups will reach a record of at least $2.25 billion this year. Nigeria is a hotspot for this funding.
Some might argue that governments at best follow behind and, at worst, impede