We’ll create enabling environment for startups to flourish, says youth minister

Jamila Bio-Ibrahim, minister of youth development, says an enabling environment will be created for startups to flourish in Nigeria.

Bio-Ibrahim spoke at the ongoing ‘Nigeria-EU Innovation Days’ in Lagos.

She said with thousands of startups emerging yearly, her ministry is committed to supporting their growth.

“Thousands of startups emerge in Nigeria yearly, with the tech sector leading the charge. In 2021 alone, over 3,300 startups were launched, and in 2022, this number exceeded 3,360, making Nigeria the highest in Africa for new startups,” the minister said.

“Approximately 800 were tech startups, underscoring the critical role of innovation and technology in our economy.”

Bio-Ibrahim said her ministry is guided by three pillars: promoting science, technology, engineering and mathematics (STEM) education, encouraging entrepreneurship and startups, and fostering international collaborations.

Also, the minister highlighted the need for private-sector investment and strategic partnerships to sustain innovation.

“Our vision is clear: to harness the power of science, innovation, and technology to drive economic growth, create jobs, and improve the quality of life for all Nigerians,” she said.

“By investing in STEM education, we aim to unleash the brilliance of our youth, nurturing young minds to become the architects of our future.

“We will incentivise private sector investment and forge strategic partnerships to fuel innovation.”

Bio-Ibrahim also called for collaboration with the European Union while proposing an Africa-EU innovation corridor to “facilitate knowledge exchange” and “jointly address global challenges”.

“The Nigeria of tomorrow will be a nation that consumes technology and creates it. It will be a nation that does not just export resources but ideas,” she added.

In her opening remark, Samuela Isopi, European Union ambassador to Nigeria and ECOWAS, said the EU is a “strong digital partner and supporter of Nigeria’s innovation ecosystem”.

“In 2022, as part of the EU global gateway, we launched a digital economy package of 820 million euros, targeting digital infrastructure investments, digitalisation of public services, digital entrepreneurship, and skills,” she said.

“The European Union will support the government’s initiative to roll out one hundred twenty thousand km of fibre-optic cable across Nigeria, and we look forward to working together on digitalizing government services, which is a notable plan of the current administration.

“This year, Nigeria will also benefit from a grant of 20 million euro to 7 consortia of African universities that will provide scholarships to Nigerian students going for intra-Africa mobility.

“The EU will support innovative research in the health sector, focussing on manufacturing of medical products and vaccines, with a new 18 million euro programme.

“We will soon start working on a bilateral science, technology, and innovation agreement to boost collaboration on research and innovation.”

The Nigeria-EU Innovation Days event aims to ignite a scientific revolution on African soil, combining Africa’s ingenuity with Europe’s technological prowess.