Japan, through the Japan International Cooperation Agency (JICA), has provided $10.4 million in grant funding to expand Nigeria’s innovation ecosystem.

The first lady, Oluremi Tinubu, laid the foundation stone of the Renewed Hope Startup Hub on Friday in Abuja.

The hub, managed by the National Information Technology Development Agency (NITDA), is expected to support young startups towards developing their ideas.

The director-general of NITDA, Kashifu Inuwa, said the facility would give young Nigerians access to technology, mentorship and other resources to transform innovative ideas into marketable products and services.

Mr Inuwa also announced plans for a $50 million seed funding initiative for startups, being developed by JICA in partnership with the Nigeria Sovereign Investment Authority (NSIA).

He said the funding had been approved and signed off, adding that startups would begin accessing it once the arrangements were completed.

According to him, the initiatives are designed to support President Bola Tinubu’s efforts to create jobs, empower young people and expand Nigeria’s digital economy.

“We are working with JICA and the Japanese government to create a talent pipeline between Nigeria and Japan.

“Nigeria is blessed with a young, talented population, while Japan is facing an ageing population, so we can complement each other,” he said.

Mr Inuwa said the government had strengthened the Office for Nigerian Digital Innovation (ONDI) and the National Centre for Artificial Intelligence and Robotics (NCAIR) to support innovation and entrepreneurship.

The Japanese ambassador to Nigeria, Hideo Suzuki, said Japan’s support for Nigeria’s startup ecosystem focused on strengthening institutions, improving access to investment, and providing modern innovation facilities.

Mr Suzuki said JICA had deployed experts to NITDA, ONDI and the Federal Ministry of Industry, Trade and Investment to support policy development and regulatory frameworks for the sector.

He said Japan was also supporting the establishment of an investment fund, backed by approximately $21 million in grant aid, to attract capital from Nigerian corporations and international donors.

“This initiative addresses a critical gap. Today, access to early-stage funding remains scarce in Nigeria. This fund will provide promising young businesses with the vital capital they need to scale.

“Our focus is purposely placed on early-stage startups that tackle pressing social challenges in sectors like healthcare, education and agriculture,” he said.

Mr Suzuki said Japan’s approach differed from conventional venture capital investment because it prioritised long-term economic development rather than quick financial returns.

Ishigame Keiji, chief representative of JICA, Nigeria Office, said the hub would support manufacturing-oriented startups through digital fabrication facilities and collaboration among government, academia, industry and entrepreneurs.

He said the initiative would help develop innovative solutions to social challenges while advancing Nigeria’s industrial diversification.

Aminu Maida, executive vice-chairman of the Nigerian Communications Commission (NCC), said the hub would give young Nigerians opportunities to turn ideas into enterprises, build skills, and create jobs.

(NAN)