Emmanuel OchayiNigeria’s Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, has unveiled an ambitious plan to supercharge the country’s tech startup ecosystem.
According to the Minister, the plan involves helping Nigerian tech startups to increase their annual funding to $5 billion by the year 2027.
Join our WhatsApp ChannelDr. Tijani, speaking passionately about the government’s commitment to fostering homegrown innovation, stated, “Our goal is to empower innovators and entrepreneurs right here in Nigeria. We aim to provide the nurturing environment and financial support that will enable startups to thrive locally and contribute to our nation’s growth.”
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The Minister highlighted the stark contrast where many Nigerian startups currently rely heavily on foreign investments. He emphasized the need to shift the balance towards local funding, setting the stage for a tech renaissance within the country.
One of the key strategies outlined by Dr. Tijani is the creation of an “active sandbox environment” that will encourage and empower innovators to tackle traditionally underserved sectors with technological solutions. “We’re removing regulatory barriers and offering robust support to inspire creative problem-solving approaches,” he declared.
The government’s commitment doesn’t stop at funding alone. Dr. Tijani revealed plans to identify opportunities for the digital economy in a diverse range of sectors, including Agriculture, Financial Services, Healthcare, Education, and more.
The intention is to launch Public-Private Partnership (PPP) pilot programs in each sector by 2027, further solidifying Nigeria’s position as a tech innovation hub.
This is part of the Ministry’s comprehensive Strategic Blueprint, which comprises five essential pillars: Knowledge, Policy, Infrastructure, Innovation, Entrepreneurship, and Capital (IEC), and Trade.
Dr. Tijani underlined the interconnectivity of these pillars, emphasizing the importance of sound policies and robust infrastructure in nurturing innovation and entrepreneurship.
He expressed the Ministry’s unwavering sense of purpose, stating, “Together, we will harness the power of technology to elevate Nigeria’s standing on the global stage, create sustainable employment opportunities, and improve the quality of life for all Nigerians.”
The future of Nigerian tech startups has never looked brighter.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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