Poor Regulation Of Streaming Platforms May Hurt Foreign Investment – Report

(FILES) In this file photo illustration a computer screen and mobile phone display the Netflix logo on March 31, 2020 in Arlington, Virginia. (Photo by Olivier DOULIERY / AFP)

Ill-advised regulation of streaming platforms by the Federal Government may negatively affect the flow of foreign investment into Nigeria.

This is according to a new report published by Tech Hive and Ikigai Innovation Initiative.

Minister of Information and Culture Lai Mohammed has revealed plans to regulate streaming platforms such as Netflix, arguing that they can be exploited to cause chaos and undermine the country’s democracy.

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It also noted that there are a “plethora of outdated laws and policies in the technology sector.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

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