ABUJA, Nigeria — The Federal Government of Nigeria, through the Investment in Digital and Creative Enterprises (iDICE) Programme, has called for expressions of interest from Enterprise Support Organisations (ESOs) to participate in a capacity development initiative aimed at improving start-up service delivery across the country.
The iDICE Programme is a federal initiative financed by the African Development Bank (AfDB), Agence Française de Développement (AFD), and the Islamic Development Bank (IsDB). It is designed to promote entrepreneurship, boost innovation, create jobs, enhance social development, and achieve economic transformation by fostering growth in the digital technology and creative ecosystem.
The programme targets over 68 million Nigerians aged 15 to 35 who are recognised as leaders of innovative, early-stage, technology-enabled start-ups or creative sector micro, small and medium-sized enterprises. The Bank financing will help the government initiative consolidate Nigeria’s position as Africa’s leading start-up investment destination and youth entrepreneurship hub.
Enterprise Support Organisations play a crucial role in the start-up ecosystem by providing expert guidance, training, funding opportunities, and networking support to help businesses succeed. These organisations include innovation hubs, accelerators, venture capital firms, and private equity firms that support, train, and sometimes fund entrepreneurs.
The iDICE Programme will support enterprise leaders through these organisations, providing non-financial services to 451 digital technology and small and medium enterprises. The initiative is expected to stimulate investments in 226 technology and creative start-ups and create 6.1 million direct and indirect jobs, with the Bank’s financing supporting about 850,000 jobs. The value added to the Nigerian economy is estimated at $6.4 billion.
The programme will also boost Nigeria’s venture capital market through independently managed funds focusing on digital and creative enterprises, aiming to attract an initial capitalisation of $433 million in private and public sector financing.
The call for expressions of interest is part of the broader implementation of the iDICE Programme, which aligns with the African Development Bank’s strategic priorities, including “Industrialise Africa,” “Improve the quality of life for the people of Africa,” and “Feed Africa.”
Interested Enterprise Support Organisations are expected to demonstrate their capacity to deliver capacity development services that will strengthen the start-up ecosystem in Nigeria. The programme aims to build on brownfield investments and synergies with ongoing initiatives in the country.
