Nigeria’s Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, has unveiled a bold vision for the country’s economic transformation, placing innovation and youth-led enterprise at the heart of national development.
Speaking at the third edition of the NSIA Prize for Innovation (NPI) Demo Day held in Abuja over the weekend, Edun described innovation as “the bedrock of productivity,” adding that Nigeria’s journey from potential to prosperity will be powered by homegrown ideas and technology-enabled solutions.
“Nigeria’s transformation must be built on ideas—driven by our youth and anchored in inclusivity,” Edun said, noting that more than 65% of the country’s population is under 30.
The Minister used the platform to highlight the government’s support for startups and entrepreneurs, announcing new initiatives including: National Innovation Hubs, Youth Innovation Trusts, Integration of coding in basic education, and Expanded access to patient capital through the ₦200 billion Presidential MSME Fund.
He emphasized that the Federal Government would continue to serve as both a facilitator and early adopter of innovative technologies to boost productivity across sectors.
Edun also praised the Nigeria Sovereign Investment Authority (NSIA) for backing innovation beyond infrastructure, citing its growing investment footprint in health, agri-value chains, and digital education.
“The Demo Day is proof that Nigeria has the talent, drive, and determination to lead in the new global economy,” Edun said. “Our prosperity lies in our people, and the boldest ideas that will define our future are only just beginning.”
The event showcased some of Nigeria’s most promising tech entrepreneurs and startups competing for the NPI, a flagship NSIA initiative aimed at deepening innovation and entrepreneurship in the country.