Nigeria Tech Startups To Enjoy Tax Holidays, Special Intervention Funds

Startups across the country are to enjoy tax holidays and special intervention funds from the federal government.

Nigeria’s Minister of Communications, Adebayo Shittu said Government has a plan to create three million jobs by 2018 and Information Communications and Technology (ICT) is at the heart of this.

The minister disclosed this as he visited Yaba Technology Ecosystem Hubs in Lagos in the company of Afolabi Imoukhuede, Senior Special Adviser, SSA to the President on Job Creation/Youth Empowerment office of the Vice President.

Startups across the country are to enjoy tax holidays and special intervention funds from the federal government.

According to the minister said this;

“As you all know, the ICT innovations is powering economies across the globe, creating employments and wealth. It is impacting on the way we live and the way we do businesses; the Buhari administration is at the forefront of diversifying our economy and he is resolved to develop the ICT sector through Local Content initiative. Government will support Yaba and all ICT hubs across the country because it is a veritable platform to achieve our ICT and job creations objective.

“We are going to replicate what is happening here in Yaba in other parts of the country in partnership with stakeholders. We are going to start in Ibadan and Katsina state in the next three months. Both the governors of Oyo and Katsina have agreed to provide facilities for the establishment of these hubs.”

Mr Shittu also disclosed that through National Technology Development Agency, NITDA, the FG will introduce an ICT Innovation fund to cater for early startups and an ICT incubation scheme to support the establishment of more high growth incubators across the country. Also the government will ensure that all the hubs across the country will be monitored and molded to ensure that they are of the highest standards and can compete globally.

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