Bosun Tijani
Minister says Nigeria secures $500m for local funding of digital innovation, entrepreneurship
The Communication, Innovation and Digital Economy Minister, Bosun Tijani, said the Federal Government has secured access to approximately half a billion dollars for local funding of innovation and entrepreneurship in the country’s digital sector.
Tijani spoke at a dinner organised by the Tech community in Abuja at the weekend.
According to him, “We’ve got access to about half a billion dollars to start local funding,” explaining that the fund would target “true, real Nigerian businesses.”
He added that by domiciling the funding in Nigeria, the government aims to foster the growth and development of homegrown enterprises, ultimately contributing to the country’s economic progress.
He stressed that more investors would be brought on board, increasing the funds available to support Nigerian innovators.
“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,” he said.
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