Federal Government Launches $617.7 Million i-DICE Program to Boost Digital and Creative Enterprises

The federal government of Nigeria has initiated the Investment in Digital and Creative Enterprises (i-DICE) Program, with an impressive budget of $617.7 million in a to revolutionize Nigeria’s digital and creative landscape.

The Vice-President, Kashim Shettima, spearheaded the inauguration of a technical committee for the program in Abuja on Wednesday, expressing confidence in its potential to redefine the nation’s economic trajectory.

The i-DICE Programme, a collaborative effort between the government and esteemed international partners such as the Bank of Industry (BoI), African Development Bank (AfDB), French Development Agency (FDA), and Islamic Development Bank (IDB), aims to nurture and empower enterprises in the digital and creative sectors.

Following the endorsement of the program’s nationwide implementation by the National Economic Council (NEC) during its last meeting in March, the Ministry of Finance has been tasked with ensuring the swift disbursement of funds for the i-DICE Programme.

Vice-President Shettima, hailing the initiative as the dawn of a new era in Nigeria, emphasized the importance of the strategic partnerships formed with these institutions, describing them as a “convergence of vision and purpose” toward achieving shared prosperity.

Mr. Tope Fasua, Chairman of the Technical Committee on the i-DICE program and Special Adviser to the President on Economic Matters, highlighted the significant financial backing behind the initiative. He disclosed that the selection of fund managers is being conducted transparently, guided by the African Development Bank (AfDB) to ensure optimal management of financial resources.

Fasua announced that AfDB and the French Development Agency (AFD) have completed the necessary documentation, with the Islamic Development Bank (ISDB) in the final stages pending approval from the Ministry of Finance. The committee anticipates the first drawdown of funds on April 15th, marking a pivotal milestone in the program’s implementation.

Expressing gratitude to President Bola Tinubu for the opportunity to contribute to societal and economic development, Fasua affirmed the committee’s commitment to leveraging the i-DICE Program for the advancement of Nigeria’s human capital and economic growth.