Nigeria’s startup ecosystem has grown rapidly in the last decade. To accelerate that growth the federal government, central bank and parastatals have introduced laws, funds, technical programs and partnerships designed to reduce risk, expand finance access and build capacity for early-stage and scaling businesses. Below is a clear, well-documented overview of the most important government support available (what it is, who runs it, how it helps), current developments to watch, persistent gaps, and concrete steps founders can take to access support today.

Big-picture framework: the Nigeria Startup Act (2022)

The Nigeria Startup Act (signed in 2022) is the cornerstone of the government’s startup policy: it creates institutional structures (like the National Council for Digital Innovation and Entrepreneurship), defines incentives for tech-enabled startups, and aims to align policy, create programmes and attract investment for the sector. The Act is intended to be the legal foundation for many downstream programmes and incentives available to founders. Startup Nigeria

Major government bodies, funds and programmes founders should know

1. Bank of Industry (BOI) — Youth & MSME financing

BOI operates several windows tailored to entrepreneurs and youth (including the Youth Entrepreneurship Support components, and other MSME loan facilities). BOI often partners with development partners and state governments to deliver concessionary loans and capacity building. If you seek longer-tenor manufacturing or scale-up finance, BOI is a primary government lender to approach. boi.ng+1

2. Central Bank of Nigeria (CBN) initiatives

CBN runs sectoral interventions and credit facilities that startups can access through partner banks—examples include the Creative Industry Financing Initiative (CIFI) for fashion, IT, film and music, and other youth-targeted credit programmes. CBN has also introduced gender-focused initiatives (e.g., We-FI) and has signalled expanded focus on youth and digital economy credit access under recent reforms. Central Bank of Nigeria+1

3. SMEDAN — capacity building, grants and conditional support for micro / small businesses

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) runs accelerator programmes, cluster support, digital academies, conditional grant schemes, and market linkages targeted at micro and small enterprises across sectors. These programmes typically include training, certification of business development service providers, and small conditional grants. smedan.gov.ng+2smedan.gov.ng+2

4. NIRSAL (agri-focus)

For agritech and agribusiness startups, NIRSAL (Nigeria Incentive-Based Risk Sharing System for Agricultural Lending) de-risks lending for agricultural projects by providing credit risk coverage, training and project oversight—useful for startups in farm-to-market, processing and value-chain models. nirsal.com+1

5. National credit guarantee & other newer initiatives (2024–2025)

In 2025 the federal government announced plans to establish a National Credit Guarantee Company to expand access to credit and provide risk-sharing instruments for financial institutions—intended to make it easier for banks to lend to SMEs and startups by sharing downside risk. This is part of an evolving set of policies to increase formal credit access for under-served groups (women and youth included). Reuters

What government support practically delivers to startups

• Lower-cost or concessionary loans (through BOI, CBN windows, state SMEs funds). boi.ng+1
• Risk-sharing / guarantees (NIRSAL for agribusiness; planned National Credit Guarantee Company). nirsal.com+1
• Grants & conditional micro-grants (SMEDAN CGS and similar schemes). smedan.gov.ng
• Training, incubation & market linkages (SMEDAN, CBN capacity-building, BOI advisory). smedan.gov.ng+1
• Policy & regulatory incentives (tax/regulatory clarity, Startup Act incentives, one-stop government support for some digital startups). Startup Nigeria

Realities & constraints founders must expect

• Access vs awareness: Many programmes exist, but awareness, documentation gaps and administrative bottlenecks reduce uptake—founders frequently miss windows or fail eligibility criteria. themediterraneanpractice.com+1
• Funding concentration: Private investment remains concentrated in a few big rounds and cities; government programmes help but do not fully substitute for private seed and Series A funding. PlanetWeb Solutions
• Implementation gaps: The Startup Act provides a framework but implementation, coordination across agencies and funding allocation remain uneven in practice—civil society and industry analysis have flagged these issues. themediterraneanpractice.com

How startups can practically access government support — an action checklist

1. Get your basics right
   • Register your business (CAC for companies/limited liability), keep tax (TIN) and compliance documents ready. Many programmes require formal registration and up-to-date filings. Startup Nigeria
2. Match grant/fund to stage
   • Micro / pre-seed: look at SMEDAN conditional grants and state SME funds. smedan.gov.ng
   • Early-stage / scaling: pursue BOI windows and CBN initiatives (via participating banks). boi.ng+1
   • Agritech: explore NIRSAL risk-sharing and capacity programmes. nirsal.com
3. Prepare strong, short applications
   • Clear problem statement, scalable business model, basic financial projections, and evidence of traction (users, revenue, pilots). Many public programmes score on impact and feasibility.
4. Use intermediary / partner channels
   • Many government funds disburse through accredited banks, incubators, or state agencies—partnering with an accredited incubator or applying through a known bank window can increase chances. boi.ng+1
5. Leverage training & certification
   • Participate in SMEDAN digital academy, BOI trainings or CBN capacity programmes to strengthen applications and create networks. smedan.gov.ng+1
6. Track new policy developments
   • Watch for the rollout of the National Credit Guarantee Company and additional CBN windows—the financing landscape is evolving rapidly (announcements came in early 2025). Reuters+1

Recommendations for policymakers (brief)

• Improve single-window access (a clear portal where startups can see, compare and apply for available programmes); even the Startup Act envisions easier coordination, but implementation needs acceleration. Startup Nigeria+1
• Increase transparency & impact reporting for all funds so founders know success rates, disbursement timelines and eligibility. themediterraneanpractice.com
• Promote private-public co-investment to attract more risk capital and avoid over-reliance on government budgets. PlanetWeb Solutions

Closing — is now a good time for Nigerian startups?

Yes — for founders who prepare and position correctly. The policy framework (Startup Act), multiple finance windows (BOI, CBN initiatives), sectoral de-risking tools (NIRSAL) and SME technical support (SMEDAN) create practical opportunities. But success requires proactive preparation: formalize the business, target the right programme by stage, prepare succinct applications, and use accredited intermediaries to bridge administrative gaps. Keep an eye on new instruments—like the National Credit Guarantee Company announced in 2025—which aim to expand formal credit access for SMEs and startups. Reuters+3Startup Nigeria+3boi.ng+3