Country
Nigeria
Sector
Technology
Intelligence Type
Capital
Status / Stage
Active
Estimated Value
USD Million (NITDA fund; $400m World Bank separate) 618
Confidence
Reported
Latest Development
Nigeria’s Startup Act 2022 established a $618 million National Information Technology Development Fund to support Nigerian startups and digital economy companies. Disbursements are ongoing through 2026 via the NITDA (National Information Technology Development Agency). The fund is complemented by a $400m World Bank digital economy investment under the Nigeria Digital Identification for Development project.
Capital Details
Capital TypeGovernment innovation fund + World Bank digital investment
Investor / FinancierFederal Government of Nigeria (NITDA); World Bank (parallel $400m)
Recipient / BorrowerNigerian technology startups and digital economy companies
Purpose of CapitalSupport Nigeria's startup ecosystem, digital economy and technology sector under the Startup Act 2022
Financing StructureNITDA-administered fund created under the Nigeria Startup Act 2022. World Bank $400m Digital ID project runs in parallel.
Market Significance
Nigeria's Startup Act is now regarded as a model for African countries — 20+ African nations have passed or are developing startup laws modelled on Nigeria's. The $618m fund is the largest government commitment to African startup finance.
Commercial Opportunity Intelligence
Commercial ReadinessCommercially Active
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)NITDA official; World Bank Nigeria digital programme; Startup Act implementation reports
Source Date2022–2026