Poor regulation of streaming platforms may jeopardise foreign investment– Report

The Federal Government’s ill-advised regulation of streaming services may have a negative impact on the flow of foreign investment into Nigeria.

According to a new analysis released by Tech Hive and Ikigai Innovation Initiative, this is the case.

Lai Mohammed, the Minister of Information and Culture, has unveiled plans to control streaming sites such as Netflix, claiming that they can be used to generate disorder and damage the country’s democracy.

“The misclassification of streaming platforms as broadcasting entities by the government should be corrected by the government as it could drive out much needed foreign investment,” the report, titled ‘The State of Tech Policy in Nigeria’ said.

It also noted that there are a “plethora of outdated laws and policies in the technology sector.

“Therefore, the regulators and legislators must adopt an adaptive strategy to the ever dynamic and evolving technology ecosystem.

“Our laws and regulations must be designed in a flexible and dynamic way that permits flexibility so as to not stifle innovation.”