The Federal Government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) programme will launch two additional funds in 2026 to invest in Nigerian start‑ups nationwide. The announcement coincided with the programme’s steering committee, chaired by Vice President Kashim Shettima, formally kicking off 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 $64 million was secured through 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 iDICE’s technology component in August 2025 after a competitive bidding process overseen by the funding partners.
iDICE is a $617 million initiative launched by the Federal Government of Nigeria, financed by the African Development Bank Group (AfDB), the Islamic Development Bank (IsDB), and the French Development Agency (AFD). The state‑owned Bank of Industry serves as co‑investor and implementing agency. Since its founding in 2016, Ventures Platform has invested in more than 90 start‑ups across Africa, including notable companies such as Paystack, Piggyvest, Moniepoint, and LemFi.
The programme’s broader objective is to harness the potential of Nigerian youth in the technology and creative sectors, increasing employability, fostering innovation, and creating new entrepreneurs among those aged 15‑35. To achieve this, iDICE focuses on three key areas: skills and enterprise development, access to finance, and an enabling environment through pro‑business policies and legislation.
In addition to the technology‑focused fund, iDICE will launch a creative‑sector fund and a “fund of funds” that will invest in smaller funds supporting technology and creative‑sector start‑ups. These developments are expected to contribute meaningfully to Nigeria’s economic transformation agenda, creating jobs at scale and empowering high‑growth entrepreneurs across the country. The programme aligns with the government’s Renewed Hope agenda, which seeks to unleash the full potential of Nigeria’s young people.
Comments are closed for this story.