The Investment in Digital and Creative Enterprises (iDICE) programme is set to expand its reach, as the Federal Government of Nigeria announced the launch of two additional investment streams for 2026, one dedicated to the creative sector and the other a “fund of funds” to support smaller tech- and creative-sector funds.
The first of these fresh funds will channel equity and quasi-equity into start-ups operating in the creative space, such as design, animation, content production and other cultural industries. The second fund will act as an umbrella investment vehicle, backing smaller venture or seed funds that in turn invest in tech and creative start-ups.
Earlier in the year, iDICE had achieved an initial close of US$64 million, with a target of US$75 million, through anchor investment from Ventures Platform and partners such as International Finance Corporation (IFC), Standard Bank of South Africa and British International Investment (BII).
In his statement, the Steering Committee Chair and Vice-President, Kashim Shettima, said: “The commencement of investing by iDICE is an exciting milestone and a leap forward in the determined efforts of the Government of Nigeria … to deliver on our vision of unleashing the full potential of Nigeria’s young people…”
The fund manager for the technology component of iDICE, Ventures Platform, was appointed following a competitive bid process in August 2025. According to the MD/CEO of Bank of Industry (BoI), Dr Olasupo Olusi, this move deepens the Federal Government’s strategy of “upscaling the Nigerian technology and creative sectors by catalysing strategic investments in high-growth, technology-enabled enterprises and the innovation ecosystem”.
iDICE itself is part of a large-scale programme launched by the Federal Government specifically to support youth-led ventures aged 15-35 in the technology and creative economy sectors. The programme is supported by the African Development Bank (AfDB), the Islamic Development Bank (IsDB) and the French Development Agency (AFD), with the Bank of Industry as co-investor and implementing agency.
The initiative’s three broad focus areas are: (1) skills and enterprise development to build talent and entrepreneurial capacity; (2) expanding access to finance via equity, quasi-equity, debt capital and capacity-building grants; and (3) creating an enabling environment through pro-business policies and legislation.
This expansion may boost Nigeria’s innovation ecosystem, unlocking further foreign capital and accelerating job creation in technology and creative sectors. The broader iDICE initiative already targets up to US$6.4 billion economic impact and creation of some six million jobs, underlining its potential as a catalyst for diversified growth.
