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$268 Million Approved by Nigeria for Agri & Tech Innovators

$268 Million Approved by Nigeria for Agri & Tech Innovators

The giant Of Africa, Nigeria approved disbursing $268 million in funding to support agricultural entrepreneurs and young technology innovators, .

One tranche of the funding, worth 90 billion naira ($248 million), will be dispensed by the central bank as “soft loans” for people building small-scale agricultural businesses. The remaing $20 million will provide funding support to young innovators in technology, according an emailed statement by the presidency stated by Yemi Osinbajo, Vice President .

Economy Diversification is Key

This is away of diversifying the Nigerian economy from its rich oil economy .  Over the years Nigeria have depended on oil exploration as its backbone for growth . Source : Bloomberg

Here are Peoples comments over the $268 million in funding to support agricultural entrepreneurs and young technology innovators.

The real value of life is to plant tree we don’t intend to sit under it shade. Let us hope this $268 Million Approved by Nigeria for Agri & Tech Innovators will get to the people

Here are Peoples comments over the $268 million in funding to support agricultural entrepreneurs and young technology innovators.

  1.  Leadership with poor execution. We keep using outdated models . Loans for innovators and early stage start up is toxic. What is the Economic team doing? It’s disgraceful to keep reading same script every-time. DBN, BOI, SMEDAN, etc and and now another scheme from VP using same strategy that has not worked. If we don’t know the right thing to do,can we just ask those who know.
  2. Govt should look at setting up Venture Capital Trust policy where skilled VCs and existing fund managers will take active part to create different innovative funds. Govt should drive entrepreneurial finance using equity and skilled management on an active basis. Same loan story takes the younger generation no where. We need to be smart. Innovation has no race or ethnicity.
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