The Federal Government has announced plans to establish two new investment funds under its Investment in Digital and Creative Enterprises (iDICE) programme, aimed at boosting Nigeria’s technology and creative sectors starting in 2026.
The announcement follows a $64 million first close of a new venture fund managed by Ventures Platform, a pan-African seed-stage firm, with iDICE joining other 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.
Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the development as “an exciting milestone” that reflects President Bola Ahmed Tinubu’s commitment to unlocking the potential of Nigeria’s young innovators in line with the administration’s Renewed Hope Agenda.
“The commencement of investing by iDICE is a leap forward in our efforts to unleash the full potential of Nigeria’s youth,” Shettima said.
Appointed as fund manager for the technology component of iDICE in August 2025, Ventures Platform will oversee strategic investments in high-growth, technology-enabled startups across the country.
The Managing Director of the Bank of Industry (BoI), Dr. Olasupo Olusi, noted that the government’s participation in Ventures Platform’s Fund II demonstrates its resolve to scale up Nigeria’s innovation ecosystem.
“This investment will help catalyse growth in technology and creative enterprises, create jobs, and accelerate our broader economic transformation agenda,” Olusi said.
Ventures Platform’s Founding Partner, Kola Aina, also expressed optimism about the collaboration, stating that the partnership would empower young entrepreneurs to “bring their innovative ideas and solutions to life—creating deep value and transforming the economy.”
