Fg, Jica, and NSIA Plan Six Funds for Nigeria Startups

In Short

• The Federal Government says it is working with the Japan International Cooperation Agency and the Nigeria Sovereign Investment Authority to set up six funds for startup financing.
• NITDA Director General Kashifu Inuwa Abdullahi shared the plan at the Global Tech Africa event in Kano.
• The wider digital economy agenda mentioned also includes skills programmes, broadband expansion, and a national sovereign cloud plan.

What Happened: How FG, JICA, And NSIA Plan Startup Funding

The Federal Government, working with the Japan International Cooperation Agency (JICA) and the Nigeria Sovereign Investment Authority (NSIA), is preparing to establish six funds to provide financing for startups developing “innovative solutions” in Nigeria.

Kashifu Inuwa Abdullahi, the Director General of the National Information Technology Development Agency (NITDA), disclosed the plan at the Global Tech Africa event in Kano. The event theme was “Connecting Africa, Accelerating Growth.”

Inuwa said the proposed funds are part of the Federal Government’s broader digital economy reforms. He said the reforms aim to stimulate innovation, develop local technology talent, and position Nigeria as a leading digital hub in Africa.

He also pointed to the Bank of Industry (BOI) and other development finance institutions as important funding sources for entrepreneurs. He added that government funding alone cannot sustain a growing entrepreneurial ecosystem, and called for more private investor participation.

Inuwa said private investors can provide “capital,” plus “equity partnerships, corporate governance, business expertise and leadership” to help startups grow.

Why It Matters: Funding, Skills, Broadband, And A Sovereign Cloud

Inuwa framed the six planned funds as part of a wider push to address financing constraints for Nigerian startups.

He also described other elements of the government’s digital economy strategy, including investment in human capital, innovation financing, broadband infrastructure, and emerging technologies.

Named initiatives include the Three Million Technical Talent (3MTT) programme, which aims to build a skilled technology workforce, and the Digital Literacy for All (DL4ALL) initiative, designed to teach foundational digital skills. Inuwa said the administration is targeting 95% digital literacy by 2030.

On infrastructure, he said the Federal Government is pursuing plans to extend fibre optic infrastructure across all 774 Local Government Areas, the 36 states, and the Federal Capital Territory to expand broadband.

He added that connectivity alone is not enough without domestic computing capacity. He said this informed NITDA’s National Sovereign Cloud Initiative, which aims to strengthen Nigeria’s computing infrastructure and promote digital sovereignty.