The Federal Executive Council has approved a plan to incentivise and further harness Nigeria’s digital innovation and entrepreneurship ecosystem.

This followed the presentation of a memo by the Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim Pantami.

The approval, according to the ministry will enable the implementation of strategies to encourage and support the development and growth of more Innovation-Driven Enterprises (IDEs), which have the potential to create millions of additional jobs in the country.

This will also help to develop innovative solutions to societal problems, and rapidly grow, as well as diversify the Nigerian economy, in line with the National Digital Economy Policy and Strategy (NDEPS) for a Digital Nigeria.

The implementation of the National Digital Economy Policy and Strategy (NDEPS) emphasises the importance of the innovation and startup ecosystem to the development of an indigenous digital economy. The Ministry will continue to position Nigeria to develop this ecosystem in order to transform Nigeria into a country with a sustainable and thriving digital economy.