The Osun State House of Assembly has introduced two crucial bills aimed at driving entrepreneurship and improving road safety across the state. The bills—Osun State Start-Up Bill, 2024 and Osun State Road and Vehicle Inspection Services Bill, 2024—were presented during the plenary session held on Monday and were announced by Speaker of the House, Adewale Egbedun, via his official X handle on Tuesday.
The Start-Up Bill is designed to promote innovation and support young entrepreneurs in Osun by creating a favorable environment for micro, small, and medium enterprises (MSMEs).
The legislation is expected to facilitate easier access to funding, business registration, mentorship, and tax incentives for start-ups, thereby enhancing job creation and economic diversification in the state.
Egbedun stated that the bill would create a vibrant business ecosystem where new ventures can thrive, adding that the policy aligns with national goals of increasing youth participation in enterprise and strengthening Nigeria's digital economy.
Entrepreneurs and business owners across Osun have welcomed the initiative, describing it as timely support for struggling MSMEs, many of which face high operational costs and limited access to capital.
In addition to promoting entrepreneurship, the Assembly also introduced the Osun State Road and Vehicle Inspection Services Bill. This bill seeks to standardize vehicle inspection processes across the state, improve safety on Osun roads, and reduce the frequency of accidents, especially those linked to commercial transportation.
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The reform is expected to benefit small businesses that rely heavily on logistics and transportation by minimizing risks and ensuring more reliable delivery channels.
Speaker Egbedun encouraged public engagement as the bills move to the next stages of legislative review, urging stakeholders, including local business communities, to offer feedback and collaborate with lawmakers to ensure effective implementation.
These legislative efforts mark a proactive step by the Osun State Government to build a more resilient SME sector and improve infrastructure, both of which are vital for sustainable economic development at the state level.
