The Federal Government is set to equip three million Nigerians with tech skills over the next four years.
It set a plan to help startups raise their yearly funding rounds to $5bn by 2027, and improve access in rural areas by at least 40 per cent.
The Minister of Communications, Innovation, and Digital Economy, Dr. ‘Bosun Tijani, on Monday, disclosed this while outlining his plan for the ministry, in a document tilted, ‘Accelerating our collective prosperity through technical efficiency: A strategic plan for the Federal Ministry of Communications, Innovation & Digital Economy’.
The minister highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital were critical components of a strong digital economy.
He stated that the primary objective of the ministry on this would be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.
Tijani said, “Recognising the critical role of patient capital in the growth of startups, we are committed to increasing the local availability of patient capital. Our intent is to create an environment for startups to raise the funding they require to thrive locally and promote the domiciliation of startups within our nation.”
Describing how the ministry would measure if its plan were working, he added, “Increase capital raised by Nigerian tech startups 50 per cent year-on-year from $1bn/yr in 2022 to $5bn/yr in 2027.”
