The Federal Government has launched an initiative to empower young entrepreneurs in the country’s burgeoning digital sector, committing an impressive $600 million to support innovation and growth.
This ambitious project, dubbed the Digital and Creative Enterprises Sector program, is specifically designed to benefit young entrepreneurs aged 15 to 35, providing them with vital financial support, technology training, and skill development.
According to Minister of Finance,Wale Edun, approximately 30% of the funds, amounting to $180 million, will be allocated to support young women entrepreneurs. Edun emphasized that this initiative is a deliberate and targeted approach to unlock the significant potential within Nigeria’s youth population, who are “talented, ambitious, and energetic”.
The program’s multi-dimensional support will help young entrepreneurs access startup capital, technology training, and general skill development. This comprehensive approach is expected to empower young Nigerians in ways that traditional systems may not fully address, providing them with a “ladder to success”.
Edun expressed gratitude to the World Bank for its support of the Nigeria For Women Project, which has already established 22,000 women’s affinity groups across six states. These self-help groups enable women to access funding, education, and training, fostering a supportive ecosystem for entrepreneurship.
This initiative aligns with Nigeria’s broader efforts to promote digital innovation and entrepreneurship. The country has been actively working to create an enabling environment for startups and small businesses, with initiatives like the National Digital Innovation and Entrepreneurship Centre (NDIEC) and the Nigeria Startup Act.
