The Federal Government of Nigeria has unveiled plans to roll out two new investment funds in 2026 aimed at boosting the nation’s technology and creative sectors by expanding financing opportunities for startups across the country. The initiative will be implemented through the Investment in Digital and Creative Enterprises (iDICE) programme, a flagship effort to accelerate innovation, youth empowerment, and economic transformation.
Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the launch of the new funds as a major milestone in the government’s strategy to unlock the potential of Nigeria’s young innovators and entrepreneurs. The announcement follows the formal commencement of iDICE’s investment activities, highlighted by an anchor commitment to a new venture capital fund managed by pan-African investor Ventures Platform, which recently achieved a $64 million first-round close.
According to the government’s statement, the two funds will include:
- A Creative Sector Fund — dedicated to investing in startups and early-stage businesses within Nigeria’s booming creative economy.
- A Fund of Funds — designed to invest in smaller venture capital and micro-funds that, in turn, support technology and creative sector startups nationwide.
The iDICE programme, valued at $617 million, targets young Nigerians aged 15–35 with a comprehensive blend of skills training, enterprise development, and access to finance, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda. Its objectives include significantly enhancing job creation, fostering high-growth innovation, and ensuring Nigeria’s competitive edge in the digital and creative industries.
The Bank of Industry (BoI) serves as the implementing agency and co-investor, with key partnerships involving the African Development Bank (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD), among others. Officials say the expanded funding strategy is expected to deepen capital flows into Nigeria’s entrepreneurial ecosystem and catalyse broader investment activity.
Industry observers have welcomed the plan, noting that access to early-stage and growth capital remains a critical barrier for many Nigerian startups — particularly in fintech, edtech, healthtech, creative arts, and digital services. The introduction of dedicated funds is seen as a promising boost that could accelerate innovation, generate jobs, and cement Nigeria’s role as a key hub for digital and creative enterprises in Africa.
This development marks a strategic step toward strengthening Nigeria’s startup ecosystem and propelling the country’s digital economy into the next phase of growth.
