The Federal Government said it is committed to ensuring that the startup ecosystem thrives in the country despite challenges. It urged developers to access the N10 billion startup capital.


However, the slow pace in accessing the funds was due to the governing council yet to sit.

This was revealed at an interactive workshop held in Lagos on Wednesday with the theme: ‘Streamlining Access to Incentives under the Nigerian Startup Act (NSA)’, organised by the Office for Nigerian Digital Innovation (ONDI), a Special Purpose Vehicle of National Information Technology Development Agency (NITDA).

The National Coordinator of ONDI, Victoria Fabunmi, said the workshop aimed, among other things, to rally private sector stakeholders in the digital innovation ecosystem on the challenges, opportunities and government-backed incentives available under the NSA, which was passed into law in 2022.

Fabunmi emphasised the government’s commitment to ensuring a thriving startup ecosystem by providing financial support, regulatory clarity, and strategic partnerships that empower businesses to scale as fast as possible.

She harped on the synergy between the private sector and the government in ensuring that the provisions of the NSA positively impact the innovation ecosystem.

According to her, there are lots of interventions to encourage more participation in the NSA, saying there is also the Startup Portal that will serve as a one-stop shop for all ecosystem players and activities. She said plans are also on the ground to bring together the private sector, the public sector, and academia, which includes universities, and research outfits to develop the ecosystem.


https://guardian.ng/business-services/business/govt-commits-to-startup-devt-tasks-businesses-on-n10b-funding/