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Stakeholders Express Optimism Over Proposed Lagos Innovation Bill
In the wake of the Lagos State Government’s engagement with stakeholders on the proposed Lagos Innovation Policy Bill, key players have expressed optimism and support on the potential of the bill on the state’s development, and by extension, the country’s.
L-R: Akeem Hassan, Technical Advsier to the Honorable Commisioner, Ministry of Innovation, Science and Technology (MIST); Omotayo Fisuyi, SSA on Innovation and Technology, Lagos; Prof Peter Bamkole, COO, Pan Atlantic University; Hon. Tunbosun Alake, Commisioner, MIST; Adeleke Alex-Adedipe, Managing Partner, DOA, all at the stakeholders engagement on the proposed Lagos Innovation Bill recently at the Eko Innovation Centre, Lagos.
Among the voices of endorsement is Beverly Agbakoba, Head of the Sport, Entertainment, and Technology Practice at Agbakoba Chambers. In an exclusive interview, Agbakoba expressed her excitement over the state government’s bold initiative, hailing it as a long-overdue step that will drive Lagos into the 21st century. “I am so excited to see that Lagos State has taken the initiative to formulate an innovation bill,” Agbakoba remarked, “It took me by surprise; I only found out yesterday, and I am very happy to see we are finally beginning to step into the 21st century.”
Agbakoba’s endorsement carries weight, as her legal practice covers the sports, entertainment, and technology – industries that stand to benefit greatly from the innovative digital infrastructure and regulatory framework envisioned by the proposed bill.
“Having a bill is a very good step in the right direction. It means we are going to lay a blueprint for how we communicate and how we set up digital infrastructure, physical infrastructure, and how we can make this state the real economy hub of not just Nigeria but Africa because we are one of the most populous nations on earth. But how are we enabling our people for the 21st century?”
She highlighted the current challenges faced by the state, including poor electricity supply and inadequate road networks, emphasizing the need for the Innovation Bill to pave the way for comprehensive solutions.
Beyond mere rhetoric, Agbakoba called for tangible action and sustained engagement, urging the formation of stakeholder committees and consultation mechanisms to ensure the innovation ecosystem remains at the forefront of the bill’s development and implementation.
“From this event today, let there be some active follow-ups,” she implored. “We want to hear about the stakeholders’ committees that should be set up, the consultation committee to engage the ecosystem. One thing we said today is there must be ongoing engagement and good communication.”
She encouraged other states in Nigeria to emulate the visionary leadership exhibited by the Lagos State Government, recognizing the potential ripple effect that such an initiative could have on the nation’s technological and economic landscape.
When asked about the specific elements she would like to see enshrined in the bill, Agbakoba’s priorities were clear: robust public-private partnership frameworks, clearly defined collaborative mechanisms, and a steadfast commitment to ongoing administration and maintenance of the envisioned digital infrastructure.
Agbakoba’s vision for a fully digitized Lagos, where hospitals, roads, and public schools are seamlessly integrated into a state-wide network, providing universal internet access to every child, underlined the potential of the Innovation Bill. However, she cautioned that realizing this vision hinges on a commitment to maintaining and sustaining the new systems.
“I really want to see the will to maintain the new system,” Agbakoba stated emphatically. “I can’t wait for Lagos to be completely wired, all hospitals, roads, public schools where every child has access to the internet.”
The event, chaired by the Honourable Commissioner for Innovation, Science and Technology, Mr. Olatubosun Alake, was an avenue for co-creation and collaboration, a move that has been variously been described as Lagos State Government’s commitment to an inclusive and participatory approach to policymaking. Among the stakeholders present at the occasion are Adaora Ikenze – Director, Public Policy, Meta; Prof. Peter Bankole – COO, Pan Atlantic University and LASRIC Member; Nkemdilim Uwaje Begho – Founder, Futuresoft; LASRIC and Alex-Adedipe Adeleke – DOA Law, among others.
In his opening remarks, the honourable commissioner emphasized the important role of Lagos State in driving innovation investment in Nigeria and indeed, Africa, noting that approximately 70 to 80 percent of innovation funding flows into the state. He stressed the urgency of establishing a robust policy framework that encourages continuous innovation investment and drives Lagos to the forefront of the digital revolution. “This is because it can encourage or discourage continuous innovation investment in the state. Today’s engagement is in line with driving an innovation policy framework,” he said.
Victor Afolabi, Chief Executive Officer of the Eko Innovation Centre, in his welcome address, emphasized the significance of the stakeholder engagement as a co-creation event, where collective deliberation would shape the regulatory incentives and create an inclusive innovation ecosystem. He commended the commissioner’s vision and commitment to advancing innovation in Lagos State, describing the state as the innovation engine room of the country and a globally recognized hub for innovation.
The highly engaging and robust stakeholder engagement witnessed active participation from government agencies, the private sector, development agencies, and other key stakeholders. The event featured five breakout sessions, where participants made actionable recommendations and proffered realistic solutions to contribute to the framework of the proposed Lagos Innovation Bill.
As Africa and MENA’s startup ecosystems transition from post-correction resilience into a new phase of disciplined growth, the Africa Startup & VC Landscape Preview (ASVLP 2026) will convene leading founders, investors, policymakers, and ecosystem builders on January 29, 2026, for its second annual, agenda-setting virtual forum.
Following a challenging global venture cycle, 2025 marked a notable rebound across the African ecosystem, with startups raising an estimated $3.2–$3.3 billion over the full year.
The recovery was accompanied by significant structural shifts: Kenya emerged as the leading destination among Africa’s “Big Four” markets for the first time, while Nigeria recorded a year-on-year funding decline, reflecting changing investor preferences, macroeconomic pressures, and a broader recalibration toward capital efficiency and sustainability.
Sectorally, fintech remained the most funded vertical, while climate & energy, AI-enabled solutions, healthtech, and infrastructure-adjacent businesses gained increasing attention. Across Africa and MENA, development finance institutions (DFIs) and family offices played a more pronounced role in anchoring funds, deploying catalytic capital, and supporting blended-finance structures, reshaping how early-stage and growth capital is mobilized.
ASVLP 2026 is designed to translate these data points into forward-looking strategy.
The forum will bring together venture capitalists, angel investors, LPs, DFIs, family offices, founders, corporate leaders, and regulators from Africa, MENA, Europe, and North America to assess 2025 outcomes and chart priorities for 2026.
The program will feature keynotes, fireside chats, panels, and deep-dive roundtables, including discussions on:
· The 2026 Africa & MENA FinTech Landscape, focusing on security, profitability, regulation, and growth frontiers
· Emerging Fund Managers, capital formation, and LP alignment
· Talent, operator depth, and institutional capacity as constraints to scale
· Regulatory evolution and cross-border market integration
A major highlight of ASVLP 2026 will be the Final DealRoom Pitch Session, where a curated group of high-potential startups will present to an experienced panel of investors.
• Founders can apply to pitch via: bit.ly/ASVLP-DR-Founders
• Investors seeking DealRoom access can request entry via: bit.ly/ASVLP-DR-Investors
Confirmed speakers for ASVLP 2026 include Khaled Ismail (HIMangel), Idris Ayodeji Bello (LoftyInc Capital), Zachariah George (Launch Africa), Tosin Faniro-Dada (Breega), Selma Ribica (FirstCircle Capital), Maha Mandour (COREangels MEA), Joe Kinvi (Borderless), Remi Prunier (Orange Ventures MEA), Karima El Hakim (Plug and Play Tech Center), Souheil Guessoum (President, The Confederation of Citizen Employers – Algeria (CAPC)), Remi Prunier (Partner, Orange Ventures, MEA), Maha Mandour (COREAngels MEA), Ali Hussein (President, Kenyan FinTech Association), Patrick Okebu (CIO, Interswitch Group) among other leading voices shaping capital, policy, and innovation across the region.
“The conversation has shifted,” said Uche Aniche, Convener of ASVLP. “It’s no longer about whether capital will return to Africa and MENA, but what kind of capital, deployed with what discipline, and in service of which long-term outcomes. ASVLP exists to help the ecosystem make sense of that transition.”
Participation in ASVLP 2026 is free but strictly by invitation.
Interested participants are encouraged to repost the official announcement on LinkedIn and comment #ASVLP2026 to receive a private registration link. They could also email [email protected] and request invite.
Major social media giants Meta Platforms, TikTok and Alphabet’s YouTube will face a landmark jury trial this week in Los Angeles County Superior Court over allegations that their addictive designs have fuelled a youth mental health crisis, marking the first such case to reach this stage.
Social Media
The pivotal personal injury lawsuit centres on a 19-year-old Californian woman identified as K.G.M., who claims her childhood immersion in Instagram, Facebook, YouTube and TikTok—engineered with endless scrolls, autoplay videos, notifications and algorithms—sparked severe anxiety, depression and suicidal thoughts.
Dozens of similar suits have surged since 2022 from families, schools and states, accusing the firms of burying internal research on teen harms while prioritising ad revenue through youth-targeted engagement hooks, despite Section 230 protections for user content.
Plaintiffs seek damages and design overhauls, arguing platforms bypassed parents and preyed on vulnerable kids; defendants counter there’s no clinical “social media addiction” diagnosis, no proven causation—kids with issues often use less—and they’ve added safeguards like parental controls and time limits.
Echoing Australia’s under-16 bans, the trial will scrutinise thousands of internal documents, expert testimonies and K.G.M.’s story, potentially expanding tech liability amid debates where studies show complex links, not direct causation, between screen time and disorders like eating issues or self-harm.
A win could mandate warning labels, age gates or algorithm tweaks, reshaping global platforms as U.S. Surgeon General advisories and global scrutiny intensify pressure on Big Tech to prioritise child safety over profits.
Meta is gearing up to trial paid subscription services on Instagram, Facebook, and WhatsApp, aiming to diversify revenue streams beyond advertising while maintaining free core access for all users.
Meta
The subscriptions will offer enhanced tools tailored for everyday users, creators, and businesses, including advanced content creation, sharing, and workflow features distinct from the existing Meta Verified verification program. Unlike a uniform rollout, Meta plans varied testing formats per app to match diverse audiences, experimenting with feature bundles based on user feedback to refine the model.
A key element involves integrating Manus, the autonomous agent firm Meta acquired for $2 billion in December, into these apps alongside its enterprise sales. Manus enables complex task automation with minimal input, with early signs like Instagram shortcuts already spotted by reverse engineer Alessandro Paluzzi.
Video tools feature prominently: Meta’s Vibes short-form video generator in the Meta AI app shifts to freemium, where paid tiers unlock higher monthly creation limits beyond the free baseline. On Instagram, subscriptions could enable unlimited audience lists, non-follower tracking, and anonymous Story views, though specifics for Facebook and WhatsApp remain under wraps.
Drawing from Meta Verified’s 2023 launch—which provides badges, support, and protection mainly for creators—these broader plans target wider appeal amid industry shifts. Ad growth slows against TikTok competition, while Snapchat+ boasts 16 million subscribers at $3.99 monthly, proving demand for value-driven paid perks despite subscription fatigue risks from streaming and storage fees.
Meta will phase tests gradually, prioritizing feedback to shape long-term viability without alienating free users.
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