The Federal Government is to allot 10 billion Naira annually to the development of Start-Up innovations based on the provisions of the Nigeria Start-Up Act 2022.
The Minister of Communications and Digital Economy, Professor Isa Pantami stated this while inaugurating the Nigeria Start-Up Act Implementation Committee in Abuja.
Professor Pantami said the act provides for the establishment of a National Council for Digital Innovation and Strategy to be chaired by the President of the country, is meant to validate the allotted funds for the reinvigoration of the digital services and ICT sector.
According to him, the world’s largest ICT Hub, Silicon valley, in the United States started as a result of legislation and funding.
He noted that the Nigeria Start-Up Act Implementation Committee comprising highly experienced Nigerians in digital services from across the globe aims to address issues bordering on legitimacy of young innovators based on the provisions of the act.
The Director General of the supervising agency for the Committee, National Information Technology Development Agency, NITDA Mr Kashifu Abdullahi described Start-Up innovators as the key drivers of the global economy therefore the Federal Government considers supporting them in Nigeria.
The Chairman of the Nigeria Start-Up Act Implementation Committee and Ahmadu Bello University Professor of ICT, Prof. Sahalu Junaidu assured stakeholders in the sector that members would put in their best for the sector to thrive in Nigeria.
Reporting By Olayemi Daniyan; Editing by Marian Benjamin and Annabel Nwachukwu