The Federal Government, through its Investment in Digital and Creative Enterprises (iDICE) programme, has announced plans to establish two additional funds in 2026 to support Nigeria’s technology and creative sectors. The initiative aims to boost investment in start-ups across the country.
The announcement followed the formal commencement of the iDICE programme’s first anchor investment through Ventures Platform, a pan-African seed-stage fund. Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the move as a major milestone that would harness the innovative potential of Nigerian youth.
The new funding achieved a first-round close of $64 million following investor commitments last Thursday. Ventures Platform, which was appointed as the Fund Manager for the technology component of iDICE in August 2025, will manage the fund alongside other institutional investors such as the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII). The fund targets a final close of $75 million.
Shettima said the commencement of investment under the iDICE initiative represents a key step in President Bola Ahmed Tinubu’s administration’s commitment to empowering young Nigerians and driving innovation in line with the Renewed Hope agenda.
The Managing Director of the Bank of Industry (BOI), Dr. Olasupo Olusi, explained that the government’s investment in Ventures Platform’s Fund II was part of efforts to strengthen the technology and creative sectors. He added that the initiative would help create jobs, support entrepreneurs, and advance Nigeria’s economic transformation goals.
Ventures Platform’s Founding Partner, Kola Aina, expressed optimism about the collaboration, noting that the partnership would empower young innovators to turn their ideas into impactful solutions that contribute to the country’s economic growth.
The iDICE programme focuses on three key areas—skills and enterprise development, expanding access to finance, and creating a supportive environment through favourable policies and legislation.
As part of its 2026 plans, iDICE will introduce two new funding schemes: a creative sector fund to invest in start-ups within the entertainment and media industries, and a “fund of funds” designed to support smaller funds focused on technology and creative enterprises.
Launched in 2023, iDICE is a $617 million programme aimed at supporting Nigerians aged 15–35 with resources and training in the digital and creative economy. It is jointly financed by the African Development Bank (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD), with the BOI serving as co-investor and implementing agency.
Since its establishment in 2016, Ventures Platform has invested in over 90 African start-ups, including Paystack, Piggyvest, Moniepoint, and LemFi.
