Japan, through the Japan International Cooperation Agency (JICA), has provided 10.4 million dollars in grant funding for the expansion of Nigeria’s innovation ecosystem.
The News Agency of Nigeria (NAN) reports that the First Lady, Sen. Oluremi Tinubu, laid the foundation stone of the Renewed Hope Startup Hub on Friday in Abuja.
The hub, managed by the National Information Technology Development Agency (NITDA), is expected to support young startups towards developing their ideas.
The Director-General NITDA, Malam Kashifu Inuwa, said the facility would provide young Nigerians with access to technology, mentorship and other resources to transform innovative ideas into marketable products and services.
Inuwa also announced plans for a 50 million-dollar seed funding initiative for startups, being developed by JICA in partnership with the Nigeria Sovereign Investment Authority (NSIA).
He said the funding had been approved and signed off, adding that startups would begin accessing it once the arrangements were completed.
According to him, the initiatives are designed to support President Bola Tinubu’s efforts to create jobs, empower young people and expand Nigeria’s digital economy.
“This is a foundation where our youth will have access to technology that can help them turn ideas into solutions to our national problems. It will also provide a platform for them to take those ideas to the global stage.
“We are working with JICA and the Japanese government to create a talent pipeline between Nigeria and Japan.
“Nigeria is blessed with a young, talented population, while Japan is facing an ageing population, so we can complement each other,” he said.
Inuwa said the government had strengthened the Office for Nigerian Digital Innovation (ONDI) and the National Centre for Artificial Intelligence and Robotics (NCAIR) to support innovation and entrepreneurship.
The Japanese Ambassador to Nigeria, Mr Hideo Suzuki, said Japan’s support for Nigeria’s startup ecosystem was built around strengthening institutions, improving access to investment and providing modern innovation facilities.
Suzuki said JICA had deployed experts to NITDA, ONDI and the Federal Ministry of Industry, Trade and Investment to support policy development and regulatory frameworks for the sector.
He said Japan was also supporting the establishment of an investment fund, backed by approximately 21 million dollars in grant aid, to attract capital from Nigerian corporations and international donors.
“This initiative addresses a critical gap. Today, access to early-stage funding remains scarce in Nigeria. This fund will provide promising young businesses with the vital capital they need to scale.
“Our focus is purposely placed on early-stage startups that tackle pressing social challenges in sectors like healthcare, education and agriculture,” he said.
Suzuki said Japan’s approach differed from conventional venture capital investment because it prioritised long-term economic development rather than quick financial returns.
Mr Ishigame Keiji, Chief Representative of JICA, Nigeria Office, said the hub would support manufacturing-oriented startups through digital fabrication facilities and collaboration among government, academia, industry and entrepreneurs.
He said the initiative would help develop innovative solutions to social challenges while advancing Nigeria’s industrial diversification.
Dr Aminu Maida, Executive Vice-Chairman, Nigerian Communications Commission (NCC), said the hub would provide young Nigerians with opportunities to develop ideas into enterprises, acquire skills and create jobs.
Maida said reliable and accessible connectivity was essential to the success of such initiatives, adding that improvements in communications infrastructure should enable people to learn, innovate and build businesses.
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