The Federal Government of Nigeria has launched a $600m programme for young Nigerians in the technology and creative sectors.
The programme is targeted at young Nigerians from ages 15-35 who are entrepreneurs and involved in the early stages of creative, innovative and technology-enabled ventures.
The Vice President Yemi Osinbajo at the event stated that Nigeria’s technology ecosystem accounts for almost 30 per cent of Africa’s funded ventures with no fewer than 180 startups.
“It is now imperative to commence a coordinated approach towards innovation on the continent, bringing together all stakeholders to coordinate efforts at scaling up investments and building programmes that provide the right enabling environment and produce talent pipelines that support the growth of innovation on the continent.”
“The government must provide more support for startups and small businesses, and investors must provide more funding.
“This is why the Investment in Digital and Creative Enterprises Programme is important”
“The total fund is $618m, out of which the AFDB provides $170million, the Agence Francaise de development $116m and the Islamic Development Bank will provide $70 million in co-financing. Another $271m is expected from private sector and institutional investors”.