The Minister of Communication, Innovation, and Digital Economy of Nigeria, Dr. Bosun Tijani, announced that the federal government has secured access to around $500 million for local funding of innovation and entrepreneurship in the country’s digital sector.
The funding is intended to support true Nigerian businesses and foster the growth of homegrown enterprises in the digital and innovation space. The funds will be domiciled locally in Nigeria to ensure that they benefit the country’s businesses directly.
The government aims to attract more investors to further increase the available funds to support Nigerian innovators and entrepreneurs.
This move is aimed at promoting the development of Nigeria’s digital economy and contributing to the country’s overall economic progress.