Dr Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy, has revealed that the country intends to establish the Nigerian Digital Technology Exchange Programme Hub in a government-owned building in San Francisco, USA.
The minister further said the building will now be known as the Nigerian Startup House in a statement on X.
He claims that the Nigeria Startup House will be built on a Federal Government site that is now located in San Francisco.
According to Tijani, establishing a startup hub in the US is consistent with the Ministry’s aim to establish Nigeria as a major participant in the world of technology.
He went on to say that the hub will be crucial in drawing foreign investment to Nigeria.
Bosun emphasised the significance of location by pointing out that the Silicon Valley region and the San Francisco Bay Area together have “a combined GDP value of just over $929 billion and are home to over 200 of the largest companies in the world by revenue.”
Tijani pointed out that although the Federal Government—represented by the Ministry of Communications, Innovation, and Digital Economy and the Ministry of Foreign Affairs—will continue to own and control the Nigeria Startup House, a group of Nigerian digital technology companies will oversee its management and supply non-public funding for its ongoing operations.
“As we work towards achieving key elements of our Trade and IEC Strategic Blueprint Pillars, the Nigerian Startup House will play a critical role in promoting Nigeria’s economic interest, attracting Foreign Direct Investment, and improving the visibility and positioning of Nigeria’s Startup Ecosystem to attract funding and expertise from global markets and organizations represented in the San Francisco Bay Area and beyond,” Tijani stated.
In addition to the establishment of the Nigerian Startup House, the minister declared the opening of a Special Purpose Vehicle (SVP) to transport an additional 90,000km of fibre optic cable, which will enhance the country’s connectivity infrastructure and provide more robust Internet access.
We earlier reported that President Bola Tinubu has ordered a review and requested that the Central Bank of Nigeria (CBN) put the controversial cybersecurity levy policy on hold amid scrutiny and lawsuits from human rights concern groups.