Nigeria’s digital sector is expected to experience a major boost really soon as the government takes steps towards funding.
The Minister of Communications and Digital Economy, Bosun Tijani, has made a statement, disclosing that the country has secured up to half a billion dollars to initiate a local funding program.
The statement was made at a dinner in partnership with the World Bank in Abuja over the weekend
According to the minister, the initiative is aimed at boosting innovation and entrepreneurship within the country’s digital sector.
He said “so we’ve got access to about half a billion dollars to start local funding.” This funding is aimed at propelling innovation and entrepreneurship within Nigeria’s thriving digital sector.
Tijani emphasized that the government is committed to keeping the funds within her borders, ensuring their benefits are channeled towards authentic Nigerian businesses.
“We want to ensure that those businesses that will benefit are true, real Nigerian businesses,” he emphasized.
This is intended to be achieved through partnership with the Bank of Industry.
By keeping the funding strictly within local businesses and innovations, the government seeks to assist the growth of homegrown enterprises, and thus the nation’s economic advancement.
The minister also assured citizens that half-billion-dollar investment is not all, but just the first step of a progressive journey towards a more robust digital economic space.
He stated, “The government is not just going to put half a billion and that’s it; it can actually bring more investors on board.”
This initial fund will augment the resources available to support Nigerian innovators.
More funds and effort harnessed to attract further investments and broaden the support system for local entrepreneurs.
