nigeria to invest $5 billion in tech startups; what to expect

Nigeria to invest $5 billion in tech startups; What to expect?

Nigeria, a country in West Africa, aims to invest $5 billion in tech startups for the next four years. The Nigerian authorities have developed strategies for $5 billion in annual tech startup investments in order to help people working in the tech sector. 

Bosun Tijani, the Nigerian minister of Communications, Innovation and Digital Economy, announced the government plan in a report titled “Accelerating our Collective Prosperity through Technical Efficiency: A Strategic Plan for the Federal Ministry of Communications, Innovation & Digital Economy.”

Under the plan, the Nigerian government will help Nigerian tech startups raise $5 billion yearly through funding by the year 2027.

What to expect?

The Nigerian government seeks to help tech startups. Bosun Tijani has highlighted the importance of innovation, entrepreneurship, and access to financing for tech startups across the country. 

The Nigerian minister said, “We intend to create an environment for startups to raise the funding they require to thrive locally and promote the domiciliation of startups within our nation.”

Nigerian tech startups can expect a rise in funding. The Nigerian government will also launch one ministry-led Public-Private Partnership (PPP) pilot programme per sector by 2027 to help startups across the country.

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