The Federal Government actively commits to transforming Nigeria into a global hub for digital innovation and entrepreneurship. During the Innovation Support Network (ISN) 2023 annual gathering, hosted by ISN, Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA), shared this ambitious vision. He highlighted that Nigeria remains Africa’s largest technology hub.
This initiative follows the remarkable success of Nigerian startups, which have attracted over $4 million in funding over the past four years. In fact, Nigeria has produced five out of seven unicorns in Africa.
Represented by Yakubu Musa, the Acting National Coordinator of the Office for Nigerian Digital Innovation (ONDI), Abdullahi emphasized that the growth of startups in Nigeria faces significant challenges related to policies and regulations.
To tackle this, the Nigerian Startup Act 2022 introduced a legal and institutional framework for the industry’s development.
Abdullahi stressed the importance of collaboration in assisting innovators in finding solutions to various economic, social, and political challenges.
He also noted that NITDA has been actively involved in creating supportive policies, regulations, and programs to foster the sustainable growth of Nigeria’s digital economy.
Neta Hanien, Vice President of Programs and Partnerships at Innov8 Hub, praised the initiative, highlighting the potential for startups to drive financial inclusion, job creation, and new opportunities.