The Lagos Chamber of Commerce and Industry (LCCI), in partnership with the Bank of Industry (BoI), has officially commissioned the LCCI-BOI Innovation Hub in Lagos.
This state-of-the-art facility is a landmark investment aimed at bridging critical infrastructure and ecosystem gaps for Nigerian startups and young innovators.
Equipped with co-working spaces, tech labs, design studios, and investor pitch theatres, the hub is set to support ventures from ideation to acceleration. LCCI President, Gabriel Idahosa, described the hub as a direct response to challenges limiting the potential of Nigeria's youth, who form over 60% of the population.
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He noted its alignment with Nigeria's Digital Economy Policy and Strategy, aiming to nurture new business models and create jobs across diverse sectors like fintech, health, and clean energy.
BoI's Managing Director, Dr. Olasupo Olusi (represented by Prof. Mutiu Oyinlola), reaffirmed their commitment to innovation, highlighting the bank's investment in 18 tech hubs nationwide.
This new hub is seen as critical to Nigeria's industrial development and achieving global competitiveness. With Nigeria attracting over $1.2 billion in venture capital in 2023, the hub is poised to be a strategic springboard for emerging ventures and economic empowerment.
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