Nigeria’s BudgIT Gets US$1.5 Million Investment

 

Omidyar Network, a philanthropic investment company, has invested US$1.5 million in Nigeria’s civic tech organization, BudgIT.

Launched in 2011, BudgIT uses creative methods such as infographics and charts to break-down government budget allocations in its simplest form.

This ensures citizens are able to easily access them, are aware of government spendings and are able to voice their concerns through several channels.

Since launch, BudgIT has helped over one million Nigerians understand how their federal and state budgets are spent and what role they can play in ensuring this money is allocated correctly.

The fresh fund, a three-year grant secured last year, will be used by BudgIT to grow its organizational capacity, especially at state level, and to expand its work with government and institutional stakeholders into Abuja.

“This investment in BudgIT by Omidyar Network is highly welcome as we work to scale access to information across all levels of education and socio-economic class on matters related to use of public funds. Systemic changes through the Open Government Partnership mechanism are also crucial to our work,” said Oluseun Onigbinde, Co-Founder, BudgIT.

He added, “We are glad Omidyar Network and other partners see this opportunity at this phase of our organization.”

This fresh fund brings to US$1.7 million the total amount of funds BudgIT has secured from the investor – it raised US$400,000 in 2014.

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