The federal government has announced plans to establish two new investment funds under its Investment in Digital and Creative Enterprises (iDICE) programme by 2026, aimed at deepening support for Nigerian startups in the technology and creative industries.
According to a statement from the Office of the Vice President on Monday, the initiative will see the launch of a creative sector fund and a “fund of funds”, which will invest in smaller funds supporting startups across the country. The move is part of ongoing efforts to enhance access to finance and stimulate innovation-driven growth among young entrepreneurs.
Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the development as “an exciting milestone” that underscores the administration’s commitment to unlocking the potential of Nigerian youth.
He said the commencement of investments under the iDICE programme aligns with President Bola Tinubu’s Renewed Hope Agenda, focused on economic transformation and youth empowerment.
With the new funds set for rollout in 2026, the initiative marks another step forward in the Nigerian government’s strategy to position the country as Africa’s leading hub for technology and creative entrepreneurship. Already, Nigeria houses the highest number of unicorns.
The announcement follows iDICE’s anchor investment in Ventures Platform’s Fund II, a pan-African early-stage venture fund that recently achieved a $64 million first close with participation from major institutional investors including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII). The fund targets a final close of $75 million.
The iDICE programme, valued at $617 million, was launched by the government under the late Muhammadu Buhari to provide young Nigerians aged 15 to 35 with the skills, financing, and enabling environment to thrive in the digital and creative economy. It is supported by the African Development Bank (AfDB), Islamic Development Bank (IsDB), and French Development Agency (AFD), with the Bank of Industry serving as the implementing agency.
Through its three pillars: skills and enterprise development, access to finance, and enabling environmen, iDICE seeks to build a pipeline of skilled talent, expand financial inclusion for startups, and promote pro-business legislation to sustain Nigeria’s innovation ecosystem.