Telecoms & IT

FEC Okays Establishment of Startup Hub in U.S.

The Federal Executive Council has approved plans to convert a property of the Federal Government in San Francisco, United States, to a Nigerian Digital Technology Exchange Programme Hub, also known as Nigeria Startup House.

Bosun Tijani, the Minister of Communication, Innovation and Digital Economy, disclosed this in a statement on X yesterday. Tijani said the ministry secured two approvals that offered significant opportunities for Nigerians in general.

He said while the first approval is on the establishment of a startup hub in the US, the other is on the provision of an additional 90,000 kilometres (km) of fibre optic cable to complement the existing connectivity infrastructure.

Speaking about the startup house, the minister said the development would go a long way in attracting foreign direct investments to the country.

“As we work towards achieving key elements of our Trade and IEC strategic blueprint pillars, the Nigerian Startup House will play a critical role in promoting Nigeria’s economic interest, attracting foreign direct investment and improving the visibility and positioning of Nigeria’s startup ecosystem to attract funding and expertise from global markets and organisations represented in the San Francisco Bay Area and beyond,” he said.

Business News in Brief

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top