Nigeria eyes global digital hub as startups generate over $4m

The Federal Government is moving towards making Nigeria a global hub for digital innovation and entrepreneurship. Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, who made the submission yesterday at the Innovation Support Network (ISN) 2023 yearly gathering, organised by ISN, added that the country remained Africa’s biggest technology.  
 
The move came against the background that Nigerian startups attracted over $4 million in four years. According to Abdulahi, the most populous black nation produced five out of seven unicorns in Africa.
   
Represented by the Acting National Coordinator of the Office for Nigerian Digital Innovation (ONDI) and National Coordinator of Yakubu Musa, the NITDA boss noted that the major challenges facing the growth of startups in Nigeria are policies and regulations, adding that the Nigerian Startup Act 2022 was formulated to engender legal and institutional framework for the development of the industry.
   
He stressed the need to strengthen collaboration towards assisting innovators in discovering innovative and efficient solutions to the numerous problems “confronting us in the economic, social, and even political/governance realms.”
 
The DG observed said his agency had, through several collaborative efforts, created enabling policies and regulatory instruments, as well as implemented programmes and initiatives for the sustainable development of the nation’s digital economy.
   
Also speaking, the Vice President, programmes and Partnerships @ Innov8 Hub, Neta Hanien, applauded the initiative, stating that startups could provide solutions to deepen financial inclusion and create more jobs and opportunities.