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FG disburses N756.3m to 81 innovators, assures Nigeria’ll take over digital space

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The federal government has disbursed about N756.3m grant to 81 young Nigerian technology innovators as part of the economic empowerment initiatives.

Explaining the target of the scheme during the presentation, Vice president, Prof Yemi Osinbajo noted that Nigerian innovators have all it takes to take over the world digital space through hard work, innovation and resourcefulness of the people.

He drew inspirations from how out of nothing, Nigerian film industry innovators changed the global narratives on music, entertainment and film industries.

The grant is made possible through the Growth and Employment Project financed by the World Bank.

The beneficiaries were selected following a rigorous technological innovation competition organised by the Presidency called ‘Aso Villa Demo Day’, which targets young Nigerian entrepreneurs with innovative business models that can contribute to the growth of the economy.

According to the Vice president, the current administration would be encouraging innovators to design technologies for agriculture, infrastructure, health care and other social services.

Osinbajo said “Today, you don’t need to be too clever to know that digital innovation and creativity will define the future of our work. It will not matter where in the world the innovator lives, he or she can develop an idea that within days can become world famous.

“Technology today is so disruptive that it can create its own wealth. We are here to witness the start of our direct investment in Micro, Small and Medium Enterprise technology start-ups.

“We have 81 innovators who have come through a competitive process to position themselves as game changers for the Nigerian economy and indeed for the world. We are possibly some of the smartest people anywhere in the face of the earth.”

“Just as we have taken the world by storm in music, entertainment and film, we will soon take over the digital space with our ideas, confidence and hard work, and our resourcefulness. The only limitation is our imagination and diligence. So today, we sign on 81 businesses that can improve the quality of businesses, lives and livelihood.

“Your role is incredibly historic and I pray you will exceed our expectations,” Osinbajo averred.


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