FG Announces $50m Seed Fund For Nigerian Startups

The federal government has announced a $50m seed fund to support Nigerian technology startups as part of efforts to accelerate innovation and grow the country’s digital economy.

The director-general of the National Information Technology Development Agency (NITDA), Kashifu Abdullahi, disclosed this yesterday at the closing of a three-day Global Tech Africa 2026 Conference in Kano.

Abdullahi said the fund, established in partnership with the Japan International Cooperation Agency and the Nigeria Sovereign Investment Authority, was facilitated by NITDA to provide financial support for startups.

He explained that interested startups must register on the Nigerian Startup Portal and undergo the labelling process under the Nigerian Startup Act to qualify for government incentives and access to the funding opportunity.

He said, “The recent one set up by JICA and NSIA, which is facilitated by NITDA, is going to be a $50m seed fund for startups to benefit from.”

The NITDA boss added that other funding opportunities were available through government institutions, including the Bank of Industry and Bank of Agriculture.

He urged technology entrepreneurs to also explore investment opportunities offered by private investors, venture capitalists and other financial institutions.

Abdullahi said the Federal Government was supporting the Global Tech Africa initiative to expand technology conferences beyond Lagos and Abuja and create opportunities for stakeholders across the country to contribute to the digital economy.

He said Kano was selected to host the 2026 edition because of its commercial importance and strategic position as a gateway to Northern Nigeria and the Sahel region.

According to him, the conference would bring technology experts, policymakers and business leaders together to develop solutions and partnerships capable of driving economic growth.

The Kano State Governor, Abba Yusuf, represented by the DG of Information Technology Development (KASITDA), Dr Bashir Muzakkaso, said his administration was implementing a digital transformation agenda covering 2025 to 2030.

He said the state was investing in a data centre, metropolitan fibre-optic connectivity and digital infrastructure to improve public service delivery and expand access to technology.

Earlier, the Project Manager of FutureMap Foundation, Isa Dahiru, said the conference attracted over 417 delegates, with organisers targeting $3.5bn in investment commitments.

He added that more than 200 applications were received for the hackathon, with 50 participants selected and 10 startups shortlisted for exhibitions, grants and mentorship.