Nigeria Investment and New Startup Support

Africa is a hotbed of technological innovation and talent. This is evident in the increase in digital skills and the large number of tech startups that have sprung up in less than a decade. These new technological skills and innovations require an enabling environment to thrive, and governments bear the responsibility for creating this environment. Lagos is Nigeria’s commercial nerve centre and a top destination for investors and tech experts in the global tech market. Hence the need to create an enabling environment for businesses and investments to flourish. Some infrastructure in place to advance technology and drive value addition in the sector include investment in metro fibre deployment.

About 2,900 km of fibre optic cable infrastructure has been deployed in Lagos, and the second phase of another 3,000 km is in the pipeline. Additionally, ducts infrastructures are laid alongside the fibre to avoid re-digging cableways when a new company wants to deploy. This is cost-effective and lessens the amount of cost passed on to customers. A vibrant technology and startup ecosystem requires safety, so Lagos is designing the first cyber security policies to protect online businesses from several digital hacks and compromises.

In addition, Nigeria’s Startup Bill will be implemented soon. Every state must commit to adopting the bill. This is important because the Nigeria Startup Bill gives every state in the federation the opportunity to build a thriving startup ecosystem through its targeted provisions. For more information contact [email protected]