the latest tech news in Nigeria, as of Friday, June 21, 2025:
1. Nigeria-Japan Collaboration on Innovation Hub:
In a significant development for the Nigerian tech ecosystem, the Federal Government of Nigeria, in partnership with the Japan International Cooperation Agency (JICA), has launched an $11.2 million innovation hub in Abuja. This hub aims to drive economic reform, industrialization, and digital innovation by providing essential infrastructure, mentorship, incubation support, and seed funding for startups. This is part of a broader $30 million grant agreement with JICA.
2. Startup Funding Landscape:
While Nigeria was a top destination for startup funding in Africa until 2023, investor appetite has been somewhat muted. However, there are signs of a turnaround in 2025.
* Overall Funding: African startups have collectively raised over $1 billion in the first five months of 2025, which is a positive sign compared to the same period in 2024.
* Nigeria's Position: Nigerian startups have raised over $162 million so far this year, ranking third in Africa behind Egypt and South Africa.
* Key Deals: Fintech startup Hizo recently secured $100,000 in a Friends & Family seed round to boost intra-Africa transactions. In Q1 2025, Nigerian startups collectively raised over $100 million, with notable deals including LemFi ($53 million), Raenest ($11 million), and Moniepoint ($10 million strategic investment from Visa).
* Potential Mega Deals: Rumors suggest that major Nigerian startups like PalmPay and Moove are in the market for significant funding rounds, potentially pushing them into unicorn status.
3. Cybersecurity and Digital Threats:
* Infostealer Threats: Kaspersky has raised flags about a rising number of infostealer threats, indicating a leak of 16 billion records.
* AI Deepfake Threats: Interpol is actively seeking Nigerian and global experts to help tackle the growing problem of AI-powered deepfake threats.
* Illegal Crypto Schemes: The Nigerian government has flagged Zugacoin and Samzuga GPT as illegal crypto schemes, advising the public to be cautious.
4. Digital Transformation in the Public Sector:
The Federal Government is emphasizing digital transformation within the civil service. The 2025 Civil Service Week, scheduled from June 20-28, has the theme "Leveraging Technology for a Smart and Agile Public Service," highlighting the government's commitment to digital innovation for enhanced public service delivery.
5. Space-Tech Innovation:
The Nigerian Communications Satellite (NigComSat) Ltd has launched the second phase of its Accelerator Programme for 2025. This program aims to support startups applying satellite and space-based technologies to address critical challenges in various sectors like agriculture, healthcare, and education.
6. Stablecoin Adoption:
A recent report by Yellow Card indicates that Nigeria ranks first globally in stablecoin adoption in 2025, and second in overall digital asset usage, trailing only India. This highlights how Nigerians are increasingly leveraging blockchain-based financial tools for cross-border payments, currency hedging, and more.
7. Other Noteworthy Updates:
* Tech executives are urging for more support for young innovators in Nigeria.
* Microsoft and Visa have conducted an AI training and hackathon program for Nigerian fintech developers.
* Paga has unveiled Doroki, an all-in-one business suite designed to empower SMEs.
* Identigo has launched in Lagos to combat fraud with a hybrid verification platform.
* There's ongoing discussion about the impact of digital detox as Nigerians grapple with an "always-on" lifestyle.
The Nigerian tech scene continues to be dynamic, with significant government initiatives, ongoing funding activities, and a focus on leveraging technology for national development and addressing emerging challenges.
I'm Aisha shehu
Talksocialtalka News
