FG, Japan Deepen Strategic Partnership with Grant Agreement to Strengthen Nigeria’s Startup Ecosystem

FG, Japan Deepen Strategic Partnership with Grant Agreement to Strengthen Nigeria’s Startup Ecosystem

The Federal Government of Nigeria and the Government of Japan today deepened their strategic development partnership with the signing of a Grant Agreement for the Project on the Development of a Supporting Environment for Startups Addressing Social Challenges, a pioneering initiative designed to strengthen Nigeria’s startup ecosystem and mobilize private capital for social innovation.

The agreement was signed between the Federal Ministry of Budget and Economic Planning and the Japan International Cooperation Agency (JICA), with implementation support from the Nigerian Sovereign Investment Authority (NSIA).

Welcoming participants at the signing ceremony, the Permanent Secretary of the Ministry of Budget and Economic Planning, Dr Deborah Odoh, described the initiative as timely and strategic, noting its potential to catalyze Nigeria’s innovation ecosystem and unlock sustainable financing for impact-driven enterprises.

“This intervention directly addresses the persistent challenge of access to patient capital confronting early-stage startups in Nigeria. We are deeply grateful for the support of the Government of Japan and its implementing partners, and we are confident that this programme will record 100 percent success at completion,” she said.

The Ambassador of Japan to Nigeria, Suzuki Hideo, highlighted the initiative as part of Japan’s broader cooperation package for Nigeria, aligned with Japan’s development cooperation priorities and designed to blend private capital with Official Development Assistance (ODA).

“This project represents Japan’s first-ever global implementation of this type of development cooperation, involving a fund structure that incorporates private capital. Interest in Tokyo is very high, and we have eagerly awaited the launch of this initiative,” the Ambassador said, commending JICA and NSIA for their technical collaboration and partnership.

Delivering the keynote address, the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, reaffirmed Nigeria’s commitment to deepening bilateral relations with Japan and positioning Nigeria as a leading destination for innovation-driven investment.

“Japan’s conception of development—shared prosperity, quality growth, discipline, and innovation—aligns closely with Nigeria’s development philosophy. This grant agreement reflects that shared vision. Nigeria values Japan not merely as a donor, but as a true development partner,” the Minister stated.

Senator Bagudu emphasized Nigeria’s ambition to attract more Japanese companies, investors, and technical expertise into its economy, noting that the project will generate proof of concept to crowd in private capital, including Japanese private capital, into Nigeria’s startup ecosystem.

“This grant agreement, to be implemented by the Nigerian Sovereign Investment Authority, demonstrates our urgency in generating proof of concept that will attract private capital into Nigeria’s startup ecosystem. Nigeria has a young population, a growing economy, and a strong desire to expand. Japan’s experience, discipline, and innovation provide valuable lessons as we pursue our development goals,” he added.

The project is expected to strengthen institutional support for startups, promote impact-driven entrepreneurship, and accelerate innovative solutions to pressing social challenges in areas such as education, healthcare, climate resilience, and inclusive finance.

On behalf of the Government of Nigeria, the Minister expressed deep appreciation to the Government and people of Japan for their sustained partnership and reaffirmed Nigeria’s commitment to fostering a conducive environment for innovation, investment, and sustainable development.