Abuja:Japan, through the Japan International Cooperation Agency (JICA), has provided $10.4 million in grant funding to expand Nigeria’s innovation ecosystem. The First Lady, Sen. Oluremi Tinubu, laid the foundation stone of the Renewed Hope Startup Hub on Friday in Abuja. Managed by the National Information Technology Development Agency (NITDA), the hub is expected to support young startups in developing their ideas.
According to News Agency of Nigeria, the Director-General of NITDA, Malam Kashifu Inuwa, stated that the facility would offer young Nigerians access to technology, mentorship, and other resources to transform innovative ideas into marketable products and services. Inuwa also mentioned plans for a $50 million seed funding initiative for startups, developed by JICA in partnership with the Nigeria Sovereign Investment Authority (NSIA). The funding has been approved and signed off, with startups expected to access it once arrangements are completed.
The initiatives are designed to support President Bola Tinubu’s efforts to create jobs, empower young people, and expand Nigeria’s digital economy. Inuwa emphasized the goal of creating a talent pipeline between Nigeria and Japan, leveraging Nigeria’s young population and Japan’s ageing demographic. He noted that the government had strengthened the Office for Nigerian Digital Innovation and the National Centre for Artificial Intelligence and Robotics to support innovation and entrepreneurship.
The Japanese Ambassador to Nigeria, Mr. Hideo Suzuki, highlighted Japan’s commitment to strengthening Nigeria’s startup ecosystem by boosting institutions, improving investment access, and providing modern innovation facilities. JICA has deployed experts to support policy development and regulatory frameworks for the sector. An investment fund backed by approximately $21 million in grant aid is being established to attract capital from Nigerian corporations and international donors, aiming to address the scarcity of early-stage funding in Nigeria.
Mr. Ishigame Keiji, Chief Representative of JICA Nigeria Office, said the hub would support manufacturing-oriented startups through digital fabrication facilities and collaboration between government, academia, industry, and entrepreneurs. Dr. Aminu Maida, Executive Vice-Chairman of the Nigerian Communications Commission, emphasized the importance of reliable connectivity for the success of these initiatives, which aim to enable learning, innovation, and business development.