The council was established through the Nigeria Startup Act, 2022 (NSA, 2022), which was signed into law in December 2022.
The president inaugurated the council before the commencement of the weekly Federal Executive Council (FEC).
Buhari while inaugurating the council, highlighted the importance of the NCDIE in driving economic growth and job creation as well as plans to consolidate the gains recorded in the sector under his administration.
According to the president, he expects that the NCDIE will oversee the implementation of the Nigeria Startup Act, which aims to stimulate the growth of innovative startups and Small and Medium-sized Enterprises (SMEs) in the country.
The NCDIE has the president as its Chairman. It has 13 other members the Vice President; Ministers of Finance, Budget, and National Planning, Trade and Investment, Communications and Digital Economy, and the Governor of the central bank, among others.
One of the responsibilities of the council included promoting the development of the country’s digital economy and providing a supportive environment for entrepreneurs to thrive.
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