Nigeria To Launch $40M Startup Fund to Boost Tech Ecosystem
- The Nigerian government is rolling out a $40 million fund to support early-stage tech startups.
- Half of the fund is contributed by the Japan International Cooperation Agency, with matching funds from the Nigeria Sovereign Investment Authority.
- The fund is part of the 2022 Nigeria Startup Act aimed at creating a structured investment framework.
The establishment of this fund is a commendable step towards fostering innovation and entrepreneurship in Nigeria. However, the government must ensure that the fund is accessible to a diverse range of startups and that awareness campaigns effectively reach all potential beneficiaries across the country.
