Tuesday, March 14, 2023, the Nigerian government hosted dignitaries within and outside of the country at the state house in Abuja during the launching of the Investment in Digital and Creative Enterprises (i-DICE) program.
The flagship initiative of the Nigerian government in partnership with the African Development Bank, Islamic Development Bank and Agence Francaise de Development is expected to drive vital funding for Nigeria’s digital and creative industries. The program is specifically targeted at the Nigerian youth in the digital technology and creative sectors not excluding students and investors in that ecosystem.
Also, to emerge under this initiative is the DICE fund, a venture capital outfit that will draw additional funding from institutional and other private investors.
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The i-DICE program has been described as part of the Federal government effort to build back a better, greener and more inclusive economy and to create sustainable jobs for the country’s teeming youth population. The program is also tipped to consolidate the nation’s position as Africa’s leading startup investment destination and youth entrepreneurship hub.
Chairman of the launching ceremony, Vice President, Yemi Osibanjo in a statement published on his official Facebook account described the initiative as a dream come true after five years of its conception and laying of groundwork by the government and its partners.
“In a world where technological innovation is constantly evolving, Nigeria has recognized the need to keep up with the pace. That’s why the investment in the Digital and Creative Enterprise (IDICE) program was born, after five years of ground work and collaboration between the government and private sector partners.
” The program is set to support young entrepreneurs in digital technology and creative industries to unlock their potentials and create job opportunities.” he said.
The vice president lauded the achievements recorded by Nigerian digital entrepreneurs, noting that over $1billion funding secured by 180 startups in Nigeria has pushed the nation in the front line as Africa’s best-funded country with approximately 30percent of funded ventures on the continent.
“With the i-DICE program, we aim to take this success even further. Thanks to the support of partners such as the African Development Bank, Agence Franciase de Development and the Islamic Development Bank, we have raised over $618million to make this a reality.
Professor Yemi Osibanjo extended his appreciation to Dr Akinwunmi Adesina, President of the Africa’s Development Bank for his contribution towards the success of the program.
“The Dice program is more than just funding; it’s an investment in a brighter future for Nigeria and its people, and I can’t wait to see what the next generation of entrepreneurs will achieve. ” Professor Osibanjo said.
Photos shot at the launching ceremony:
