The Federal Government’s commitment to fostering the growth of young start-ups in Nigeria’s information, technology, and communication (ICT) sector has been reaffirmed by Prof. Isa Ali Ibrahim Pantami, Minister of Communications and Digital Economy.
He made the promise after opening the Nigerian tech innovators’ pavilion at the 2022 Gulf Information Technology Exhibition (GITEX), which got underway on Monday in Dubai, United Arab Emirates, UAE.
On the opening day of the international exposition at the Dubai World Trade Center, a Nigerian tech company taking part in the five-day GITEX event obtained an investment deal for N10 million US dollars.
Pantami claims that the federal government, led by President Muhammadu Buhari, is proud of the great achievements of the nation’s start-ups, which are accelerating economic development and creating jobs.
According to him, there are hundreds of young ICT innovators and start-ups with 150 to 200 employees on their payroll in Lagos, Abuja, Kano, Kaduna, and even Kastina State.
“This is why we established a Presidential Council on Digital Innovation and Entrepreneurship.
“By the time the Council is fully inaugurated, start-ups in Nigeria will be offered tax holidays, seed funding, and get other special incentives.
“There is also the aspect of the intellectual property right, among other support packages the government will shower them,” he said.
To address the challenges facing start-ups in the country, Pantami said his Ministry came up with an Executive Bill called the Nigerian Start-Up Bill, describing it as one of the legacies the President Muhammadu Buhari-led administration will bequeath.
The Minister, who broke the news of the multi-million naira investment deal secured by a Nigerian start-up at the GITEX event, said he was impressed with the quality of ICT products Nigerian tech inventors are showcasing at the ongoing GITEX.
“I have interacted with several Nigerian start-ups here. And they have top-notch products to exhibit. Our start-ups are adding value to Nigeria’s economy. So, there is the need for us to support them to grow”.