Nigeria Top Destination For Tech Startup Capital In Africa – Minister

The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani has said Nigeria is presently a top destination for technology startup capital in Africa.

According to the Minister, out of the about $5 billion invested in technology startups in the continent in 2022, Nigeria took 20 per cent of that total investment.

Tijani stated these in Abuja on Thursday at the Digital Nigeria International Conference with the theme: “Harnessing Digital Technologies for Job Creation, Inclusive Economic Growth, and Sustainability,” organised by National Information Technology Development Agency (NITDA).

He said technology is constantly evolving and those who take the most out of it are countries that have in place a progressive attitude which prioritises innovation and new ways of doing things.

The minister said it was to realise this, that his administration evolved a five strategic pillar agenda which focused on knowledge, policy, infrastructure, innovation, entrepreneurship capital, and trade.

“The Nigerian government has always been one that is open to collaboration, but also input from the private sector. There are hardly any policy committees that the government set up today that are not fully formed with the consent or participation of the private sector.

“So let’s not leave it to just the government to find innovative ways to lift our economy forward with digital technologies. But let’s recognise the fact that our collective responsibility and investment got us to this point,” he stated.

In his remarks, the director general of NITDA, Kashifu Inuwa Abdullahi said the agency intends to use the power of digital technology to foster job creation, ensure inclusive economic growth and lay the foundation for the future digital economy in Nigeria.

He said achieving the economy was the best option for Nigeria as statistics showed that digitally transformed enterprises contributed $13.5 trillion to the global GDP in 2018 and is projected to reach $53.3 trillion to the global GDP this year which is more than 50% of the global GDP.

“As we step into the digital Nigeria conference, I want us to take that same together towards building a brighter digital and more prosperous future for Nigeria.

“Let it be a clarion call for all of us to harness the power of digital technology to foster job creation, ensure inclusive economic growth, and lay the foundation for a sustainable digital future for all of us,” the director general added.