(DDM) – The Federal Government of Nigeria has announced plans to launch two new investment funds under the Investment in Digital and Creative Enterprises (iDICE) initiative by 2026, aimed at accelerating innovation and growth in the country’s technology and creative sectors.
Diaspora Digital Media (DDM) gathered that the new funds are expected to build on the achievements of the first phase of the iDICE program, which was introduced in 2023 to empower Nigerian youth through digital entrepreneurship, job creation, and capacity building.
According to officials from the Ministry of Communications, Innovation, and Digital Economy, the two new funds will specifically target startups in financial technology, digital entertainment, animation, film production, artificial intelligence, and software development.
The initiative will also provide support for emerging creative ventures, including fashion technology, music production, and digital content distribution platforms.
Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, stated that the new funds are designed to strengthen Nigeria’s innovation ecosystem and bridge the financing gap that has hindered startup growth in the country.
He explained that the Federal Government, in collaboration with the African Development Bank (AfDB), the French Development Agency (AFD), and the Islamic Development Bank (IsDB), will channel the investments toward youth-led enterprises with measurable social and economic impact.
Tijani noted that one of the funds will be focused on seed-stage startups, helping them transition from concept to market, while the second will support growth-stage companies seeking expansion capital and regional market penetration.
The Minister added that the 2026 rollout will mark a significant step in the government’s long-term plan to position Nigeria as Africa’s leading digital economy.
He emphasized that the creative and tech industries are among the country’s fastest-growing sectors, contributing billions of naira annually to the Gross Domestic Product (GDP) and offering a pathway out of unemployment for young Nigerians.
Experts describe the initiative as a strategic response to the challenges faced by innovators, especially those without access to venture capital or institutional funding.
Nigeria’s tech and creative industries have witnessed remarkable global recognition in recent years, with startups like Flutterwave, Paystack, and Andela achieving billion-dollar valuations and artists like Burna Boy and Tems dominating international charts.
The Federal Government’s continued investment through the iDICE program is seen as a way to sustain this momentum, attract foreign investors, and build a digital economy that thrives on creativity and inclusion.
Stakeholders from the private sector and academia have also been invited to participate in policy consultations that will shape the implementation framework for the new iDICE funds.
The launch of the two new funds in 2026 is expected to inject renewed confidence into Nigeria’s startup ecosystem and strengthen its position as the innovation hub of Africa.