Proposed Nigerian innovation fund to sustain, scale digital innovation

Stakeholders have intensified the conversation on the need to shape the future of Nigeria’s digital economy with targeted policies and cooperative actions.

The critical stakeholders, which included industry leaders, government officials and the private sector, made the call at the Sixth Policy Dialogue on Nigeria’s Digital Innovation Ecosystem, held in Akwa-Ibom State.

The event, themed, ‘Catalysts for Change, Building a Vibrant Digital Economy’, was hosted by the Digital Transformation Centre (DTC) Nigeria alongside the National Information Technology Development Agency (NITDA) and the Innovation Support Network (ISN) Hubs. It drew on insights from an extensive survey that revealed top priorities for Nigeria’s digital growth.

With a key focus on five areas of digital literacy and skills development, support for the startup ecosystem, access to finance, funding for innovation and research as well as strengthening digital infrastructure, Director, IT Infrastructure Solutions, NITDA, Olawumi Oladejo, argued that the priorities laid the foundation for a series of group discussions aimed at creating actionable strategies to navigate current challenges.

A special adviser to the Governor of Kano State, Dr Danyaro Yakasai, and Uduak-Obong Ekpo-Ufot of the Akwa Ibom State House of Assembly highlighted the critical role of co-ordinated policy efforts in building a resilient digital future for Nigeria, proposing practical strategies for the five key areas.

The dialogue focused the discussion on establishing a Nigerian Innovation Fund (NIF), a proposed fund to sustain and scale digital innovation across Nigeria and also shared insights on structuring the fund to maximise its impact and ensure equitable support for tech initiatives nationwide.

The dialogue, The Guardian gathered, aims to bridge the gap between policymakers and digital stakeholders, providing a roadmap for policies that are responsive to the evolving needs of Nigeria’s tech ecosystem.

The Digital Transformation Centre (DTC) Nigeria is co-funded by the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH.