The federal government will soon launch a Venture Capital Fund for software development to support the development of the nation’s ICT.

The Minister of Communications Technology, Mrs Omobolaji Johnson disclosed this to journalists after briefing President Goodluck Jonathan on the performance of her ministry in the 2012 budget.

The Minister noted that so many young Nigerians are involved in software manufacturing but do not have access to fund and that is what the venture capital fund will do.

She said the ministry has spent only 16 .5 per cent of the capital budget released out of the N9.2 billion meant for the new ministry in the 2012 budget.

Mrs Johnson enumerated the priority areas of the ministry to include the deployment of information technology infrastructure across the country, bridging the digital divide in education, health and agriculture, job creation and e-governance.