Nigeria's vice president Kashim Shettima.

Nigeria announced a $119 million investment yesterday to support the country's tech hubs as well as micro, small, and medium-sized firms.

The details came to light after a meeting between vice president Kashim Shettima and Swedish investors in Stockholm.

During the meeting, Shettima urged global investors to take note of Nigeria's lively investment climate, which he described as ripe with opportunities.

"Nigeria is now an ambitious nation, bound by the limitless potential of the Fourth Industrial Revolution," he said.

A substantial amount of the investment comes from Gluwa, a decentralised financial platform that has pledged $100 million to help Nigerians improve their digital skills.

Akinola Jones, director of Gluwa, mentioned plans to train more than 30,000 people.

Similarly, Ericsson made a significant commitment, with managing director Peter Olusoji Ogundele announcing intentions to build a $19 million technology hub in Nigeria. 

"We can train our youth and export talent to the world, making us another India," he said.

While Edgar Luczak, based in Sweden, partner and head of advisory at Epicenter, expressed hope, saying, "Together, we can build a stronger economy and create jobs."

Shettima stressed the importance of small medium sized enterprises in Nigeria, which account for 96% of businesses and 84% of jobs. He urged Swedish investors to help overcome barriers to funding and market access through technology and experience in different industries.