The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has identified innovation as the foundation of Nigeria’s economic transformation, emphasising its role as the driving force behind productivity.
Delivering the keynote address at the NSIA Prize for Innovation (NPI) Demo Day 3.0 over the weekend, the Minister emphasised that Nigeria’s shift from potential to prosperity hinges on homegrown, scalable solutions driven by its youthful population, over 65% of whom are under the age of 30.
“Nigeria’s transformation must be built on ideas,” he declared, “driven by our youth and anchored in inclusivity.”His message to the private sector was clear: Nigeria’s future growth will be fuelled by long-term investments in enterprise.
Mr. Edun reaffirmed the Federal Government’s commitment to unlocking patient capital through mechanisms such as the ₦200 billion Presidential MSME Fund, streamlining regulations, and positioning government as an early adopter of tech-enabled solutions.
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The Minister also announced upcoming policy tools including the establishment of National Innovation Hubs, Youth Innovation Trusts, and the mainstreaming of coding in basic education aimed at catalysing enterprise at scale.
Commending the NSIA’s support for startups extending beyond infrastructure into sectors such as health, digital learning, and agri-value chains Edun noted that the Demo Day exemplified how a strong innovation pipeline is central to Nigeria’s post-oil, private-sector-led growth.
“Our prosperity lies in our people,” he concluded. “And the boldest ideas that will define Nigeria’s economic future are only just beginning.”
