Ministry Of Communication Targets $5bn Funding For Nigeria’s Tech Startups

The Ministry of Communications, Innovation and Digital Economy said it wants to use its regulatory mandate to increase investments and attract up to $5bn fund-raising for Nigerian tech startups by 2027.

The ministry hopes that by providing an enabling environment that encourages and empowers innovators and entrepreneurs to develop unique solutions for sectors, Nigerian tech startups would see an increase in capital raised by 50 per cent year-on-year.