Mysten Labs Co-founder Launches $1.3M Fund for Nigerian Software Engineers

Adeniyi Abiodun, Mysten Co-founder and CPO, announced that a donation will be released to the Inurere Foundation for the training of software engineers.

Mr Adeniyi Abiodun announced through his X account that he and his wife would establish an endowment worth $1.3M to provide aspiring Nigerian software engineers with access to training and opportunities, especially in the sought-after fields of AI and blockchain.

1/6. I am thrilled to share big news.

My wife, Gloria, and I are launching a $1.3M endowment fund to help aspiring software engineers in Nigeria access the training they need to succeed.

It’s a milestone we’ve dreamed of, and now it’s real. pic.twitter.com/49NcQ31eUM

— Adeniyi.sui (@EmanAbio) March 19, 2025

The former Product Lead at Meta said the loan will be handled by the Inurere Foundation and facilitated by Meedl Africa, a FinTech company. The training will be conducted on the platform of Semicolon Africa.

He cited interest rates as a hindrance to the success of many software engineers in Nigeria and Africa at large.

In response, the fund will be disbursed within five years to eliminate the financial constraints impeding the development of technological realms in Nigeria.

“This fund, which isn’t seeking a financial return, can attract other funding sources to offer affordable interest rates. Nigerian financial providers are interested in student loans, but with MPR at 27.5%, their rates are too high. Blending that ‘expensive’ capital with endowment funds can make loans more affordable.”

Ashley Immanuel, Semicolon COO, said.

He further added the move will give more learners access to training and needed materials.

Microsoft Donated $1M to the Rising Need for AI & Blockchain Engineers

Similarly, Microsoft pledged $1M, in addition to numerous funds the company has released, to train one million Nigerians in artificial intelligence and digital skills. 

Olatomiwa Williams, the Managing Director of Microsoft Nigeria and Ghana, underlined the company’s dedication to getting individuals and organizations involved in the AI revolution.

@Microsoft has unveiled a $1 million initiative to train one million Nigerians in artificial intelligence (AI) and digital skills over the next two years.

The program is a collaboration with organizations such as @Tech4DevHQ and Data Science Nigeria, focusing on enhancing the… pic.twitter.com/E463vjx5qf

— Empower Africa (@EmpowerAfrica_) February 20, 2025

Notably, the World Bank projected that by 2030, between 35% to 45% of jobs in Nigeria will need digital competency.

Nigeria is believed to be aware of the need for a strong digital workforce when the former Minister of Communications pointed out the importance of integrating blockchain technology into the Nigerian ecosystem for rapid economic growth.

He further said the National Digital Economy Policy and Strategy (NDEPS) was established to help the Nigerian economy develop robustly through digital technology opportunities.

Likewise, in the AI industry, many efforts have been made to position Nigeria as an AI hub.

The current  Minister of Communications, Innovations, and Digital Economy, Bosun Tijani, has also reiterated the former Minister’s statements innumerably. 

He said the present administration is fully focused on adopting the necessary strategies for the adoption of AI.

“Artificial Intelligence has always been with us. However, our focus is that we want it to drive prosperity in Nigeria.”

Dr Tijani said.

The current administration launched the 3 Million Technical Talent (3MTT) program, an Integral component of the Renewed Hope agenda, to shape and make the Nigerian digital workforce a world standard.