FG Unveils $50 million Startup Scholarship Funds
The Federal Government has formally launched a $50 million Impact Innovation Fund to back Nigerian startups solving urgent social problems.
The deal was sealed after agreements were signed between the Nigeria Sovereign Investment Authority and the Japan International Cooperation Agency.
The fund is designed to support young businesses working in areas such as healthcare, education, agriculture and climate solutions.
Officials say it will provide patient capital and long-term backing to help innovators grow sustainable ventures.
The partnership brings together Nigeria’s sovereign wealth institution and Japan’s development agency to boost impact-driven enterprises. It is expected to attract more private investment into the country’s startup space.
Government representatives say the initiative aims to close funding gaps for early-stage companies and strengthen Nigeria’s innovation ecosystem, while creating jobs and tackling pressing social needs.
