Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, has revealed that the federal government has obtained around $500 million for local innovation and entrepreneurship funding in the digital sector.
He shared this during a Tech community dinner in Abuja on Friday.
“We’ve got access to about half a billion dollars to start local funding,” he told reporters.
The minister highlighted that the funding would focus on authentic Nigerian businesses, aiming to promote their growth and boost the national economy.
The government’s intention is to involve additional investors to further support local innovators.
He added,” Part of my responsibilities is working with BOI (Bank of Industry) to ensure that we domicile that funding locally in Nigeria, work with firms who manage and invest in businesses to ensure that those businesses that will benefit are true, real Nigerian businesses.
“And what we are going to see is that the funding is available locally and in the coming months it is going to become larger and as these funds become larger we want to leverage that money as well.
“So the government is not just going to put half a billion and that’s it, it can actually bring more investors to heart as we have more money, more of our innovators can have access to resources,” he said.”
