The Federal Government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) programme is set to launch two additional funds in 2026, targeting investments in Nigerian start-ups across the country. This announcement comes as the programme’s steering committee, chaired by Vice President Kashim Shettima, marked the formal kick-off of its investment efforts with a $64 million first-round close of a new venture fund managed by Ventures Platform, a pan-African seed-stage fund.
The new funding is part of the iDICE programme’s broader objective to leverage the potential of Nigerian youth in the technology and creative sectors. The programme aims to increase employability, foster innovation, and create new entrepreneurs among young Nigerians aged 15-35. To achieve this, the programme is being implemented across three key areas: skills and enterprise development, access to finance, and creating an enabling environment through pro-business policies and legislation.
The $64 million first-round close was achieved based on investor commitments from institutional investors, including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII). Ventures Platform was appointed as the Fund Manager for the technology component of iDICE in August 2025, following a competitive bidding process supervised by the funding partners.
The iDICE programme is a $617 million initiative launched by the Federal Government of Nigeria, supported by financing from the African Development Bank Group (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD), with the state-owned Bank of Industry serving as co-investor and implementing agency. Since its founding in 2016, Ventures Platform has invested in over 90 start-ups across Africa, including notable companies such as Paystack, Piggyvest, Moniepoint, and LemFi.
In addition to its technology-focused investments, the iDICE programme will also launch a creative sector fund and a ‘fund of funds’ that will invest in smaller funds supporting technology and creative sector start-ups. This development is expected to contribute meaningfully to Nigeria’s broader economic transformation agenda, with goals to create jobs at scale and empower high-growth entrepreneurs across the country. The programme’s efforts are part of the government’s Renewed Hope agenda, which aims to unleash the full potential of Nigeria’s young people.