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Nigeria: government finances the local start-ups

By the end of the year 2015, the federal government of Nigeria intends to allocate 10 billion naira (50 million dollars) that will come to support the local start-ups working in the creation of software. On this matter, Omobola Johnson (photo), the Minister of the communications, revealed that over the 50 million dollars, 16,2 million dollars were already collected.

According to Omobola Johnson, the ICTS national sector is moving with about 350 small companies operating in it. These small companies, due to the lack of adequate means, are largely dominated by the multinationals that will not really contribute to the economic boom of the country. It is imperative to help the small entrepreneurs in order to make them more competitive. Their competitiveness will create some employment and use many young people, develop the ICTS market and create wealth for Nigeria.

More than 360 million dollars deriving from the purchase, the maintenance of software, products and ICTS services, were transferred abroad.

The creation project for investment fund to support ICTS start-ups joins the framework of the program that Nigeria plans to start in order to also develop the Internet contents.

 

Original text by: Agence Ecofin

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