FG Proposes 50% Increase In Tech Start-up Revenue


The Federal Government's proposal is to achieve a year-on-year increase of 50 percent in the capital raised by Nigerian tech startups, aiming to raise it from $1 billion annually in 2022 to $5 billion in 2027. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, outlined this plan in a document titled 'Strategic Plan for the Ministry of Communication, Innovation, and Digital Economy,' which was obtained by BusinessDay. 

According to the minister, his administration will identify digital economy opportunities in various sectors, including agriculture, finance, healthcare, education, energy, transportation, manufacturing, retail, textiles, media, entertainment, sports, and real estate. 

He also emphasized the importance of implementing the Nigeria Startup Act (NSA) in collaboration with relevant ministries and agencies to achieve these goals and support the growth of Nigeria's startup ecosystem.

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