The Nigerian government has introduced a new initiative called the Digital Trade Desk, aimed at accelerating funding for local startups. The initiative, unveiled by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, targets raising $5 billion in funding to promote innovation and entrepreneurship in the country. It aims to increase the technology sector’s contribution to Nigeria’s GDP from 14–18% to 21% within three years.
The Digital Trade Desk is a collaborative project between the Ministry of Communications and the Ministry of Industry, Trade, and Investment. It seeks to provide tailored support to local technology companies, enabling them to compete in African and global markets. The initiative is part of a broader effort to diversify Nigeria’s economy, improve its position in the Economic Complexity Index (ECI), and attract more international trade and investment.
This new program aligns with President Bola Tinubu’s goal of reaching a $1 trillion Nigerian economy by focusing on innovation, investment, and global trade. Nigeria’s startup funding, which dropped to $400 million in 2024, aims to grow significantly with this new initiative, reversing the trend where Kenya overtook Nigeria as the leading destination for startup investments in Africa.