Federal Government of Nigeria has announced plans to expand its Investment in Digital and Creative Enterprises (iDICE) programme, targeting ,$75m funding and by establishing two additional funds in 2026 to support the country’s technology and creative sectors.
The initiative is targeted at boosting investment in start-ups across Nigeria and accelerating the growth of the innovation ecosystem.
According to the Senior Special Assistant to the№ President on Media and Communications (Office of the Vice President), Stanley Nkwocha,T ,*he Federal Government of Nigeria Investment in Digital and Creative Enterprises (iDICE) programme has announced plans to launch two additional funds for the technology and creative sectors in 2026, targeting investments in Nigerian start-ups across the country.”
The announcement on X, Monday, follows the formal kick-off of the programme, which includes an anchor investment in a new venture fund managed by Ventures Platform, a pan-African seed-stage investment firm. Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the development as a strategic step toward empowering Nigeria’s young population.
Shettima stated, “The commencement of investing by iDICE is an exciting milestone and a leap forward in the determined efforts of the Government of Nigeria, under the leadership of His Excellency President Bola Ahmed Tinubu, to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda.”
The new venture fund secured a $64 million first-round close last Thursday, supported by investor commitments. Ventures Platform was appointed as the Fund Manager for the technology component of iDICE following a competitive bidding process supervised by the programme’s funding partners in August 2025.
With the partnership, iDICE now joins other major institutional investors, including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII). The fund is targeting a final close of $75 million.
,Managing Director/CEO of the Bank of Industry,Dr Olasupo Olusi highlighted the importance of the investment. He noted that the move aligns with the Federal Government’s broader objective of scaling the digital and creative sectors.
Olusi said the initiative will “contribute meaningfully to the nation’s broader economic transformation agenda, with goals to create jobs at scale and empower high-growth entrepreneurs across the country.”
,On his part, founding Partner at Ventures Platform, Kola Aina, expressed optimism about the collaboration, stating, “We are delighted to have been selected as the iDICE Technology Fund Manager, partnering with the Federal Government of Nigeria and other key stakeholders to achieve our collective goal of supporting Nigeria’s young entrepreneurs and innovators to bring their innovative ideas and solutions to life—creating deep value and transforming the country’s economy.”
The iDICE programme is structured around three core areas: skills and enterprise development, expanded access to financing, and the creation of a supportive policy environment. Beyond its technology-targeted investments, the programme confirmed plans to launch “a creative sector fund that will invest in creative sector start-ups and a ‘fund of funds’ that will invest in smaller funds supporting technology and creative sector start-ups.”
Launched with a total financing package of $617 million, iDICE is supported by the African Development Bank Group, the Islamic Development Bank, and the French Development Agency, with the Bank of Industry serving as co-investor and implementing agency. The programme focuses on empowering Nigerians aged 15 to 35 with digital and entrepreneurship skills.
Since its establishment in 2016, Ventures Platform has backed more than 90 start-ups across Africa, including notable firms such as Paystack, Piggyvest, Moniepoint, and LemFi.
