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A Non-Governmental Organization
The federal capital territory fct of nigeria is a bustling hub of entrepreneurial activity with a population of over 2 million people the fct is home to a diverse range of startups and established companies the area has a rich history of entrepreneurship with many successful businesses having been founded here over the years the fct is located in the heart of nigeria and is known for its vibrant culture and bustling economy the area is home to a number of universities including the university of abuja and the nigerian law school which provide a steady stream of talented graduates to the local startup scene in recent years the fct has seen a surge in technological innovation with many startups focusing on areas such as fintech ecommerce and mobile app development companies such as paystack flutterwave and jumia have all been founded in the fct and have gone on to achieve great success both locally and internationally despite the thriving startup scene the fct still faces significant challenges the unemployment rate in the area is high with many young people struggling to find work the living wage in the fct is around 30000 naira per month which is equivalent to around 80 usd this makes it difficult for many people to make ends meet and can be a barrier to entrepreneurship despite these challenges the fct startup scene is thriving the city level gdp is estimated to be around 12 billion usd and new companies are starting up all the time while there are certainly challenges to be faced the entrepreneurial spirit of the fct is strong and there is a sense of optimism and excitement about the future of the local startup scene
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