The federal government has announced its intention to create two new investment funds as part of its investment in the digital and creative enterprises program, aimed at enhancing Nigeria’s technology and creative sectors in 2026.
According to a statement released on Monday by the Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha, these funds will focus on strategic investments in startups across the nation, as part of efforts to promote innovation and empower the youth.
Nkwocha stated that the announcement follows a significant milestone in the iDICE initiative, with Vice President Kashim Shettima, who leads the programme’s steering committee, confirming the official launch of investments through an anchor venture fund managed by Ventures Platform, a pan-African seed-stage investment firm.
He indicated that the new fund has successfully secured $64 million in its initial funding round, with institutional investors, including the International Finance Corporation, Standard Bank of South Africa, and British International Investment (BII), participating as partners.
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“The initiation of investments by iDICE represents an exciting milestone and a significant advancement in the federal government’s ongoing efforts, under the leadership of President Bola Tinubu, to realize our vision of unlocking the full potential of Nigeria’s youth, in accordance with the Renewed Hope agenda,” the statement noted.
The statement added that the Managing Director of the Bank of Industry, Olasupo Olusi, remarked that the investment in Ventures Platform’s fund II signifies the government’s commitment to broadening opportunities in the tech and creative sectors.
“By investing in this fund, we are catalyzing high-growth, technology-driven enterprises that will facilitate job creation and advance Nigeria’s overall economic transformation,” Olusi stated.
Founding Partner of Ventures Platform, Kola Aina, expressed confidence in the partnership, emphasizing that it would “assist Nigeria’s young entrepreneurs and innovators in realizing their ideas, generating value, and transforming the economy.”
The iDICE programme, valued at $617 million, is designed to support young Nigerians aged 15 to 35 by providing access to finance, enterprise development, and a conducive business environment.
It is supported by the African Development Bank, Islamic Development Bank, and the French Development Agency, with the Bank of Industry acting as co-investor and implementing agency.
As part of its 2026 agenda, iDICE plans to introduce two additional funding mechanisms: a Creative Sector Fund to invest in startups within the creative industry, and a Fund of Funds that will direct resources into smaller investment funds that support both tech and creative enterprises.
