The federal government has secured approximately $ 500 million to initiate a local funding programme to boost innovation and entrepreneurship within the country’s digital sector.
The minister of communications and digital economy, Bosun Tijani, disclosed this at a dinner in partnership with the World Bank in Abuja on Friday, August 25.
Tijani revealed the government’s plan to domicile local funding in Nigeria and ensure that it benefits genuine Nigerian businesses, adding that it will collaborate with the Bank of Industry.
He noted: “So, we’ve got access to about half a billion dollars to start local funding.
“Part of my responsibilities is working with BOI 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 we are going to see 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 bring more investors to heart as we have more money, and more of our innovators can access resources.”
