The Federal Government has unveiled plans to launch the i-DICE (Investment in Digital and Creative Enterprises) program in November 2023, backed by a substantial budget of $617.7 million. This program, initially initiated in March under the past administration of President Muhammadu Buhari, is designed to foster innovation and job creation within the technology sector
Vice President Kashim Shettima, in a meeting at the Presidential Villa, instructed the i-DICE Steering Committee to ensure that the program commences by the end of November.
He emphasized the importance of responsible fund management and highlighted the transformative potential of this $617.7 million initiative.
Shettima stressed the urgency of addressing the country’s unique challenges, particularly youth unemployment, and urged program partners to work together to achieve nationwide coverage.
He also expressed his commitment to providing support and resources, citing President Bola Tinubu’s dedication to transforming the country
Minister of Finance, Wale Edun, underscored the program’s significance in fulfilling President Bola Tinubu’s commitment to creating 1.2 million digital jobs for youth.
He noted that the project prioritizes inclusivity, with a target of 50% participation by women.
Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, emphasized the government’s desire for Nigeria to lead globally in technology and creativity.
He highlighted the importance of investing in technology startups to achieve this goal.
Managing Director of the Bank of Industry, Kayode Pitan, disclosed that Vice President Kashim Shettima has instructed them to kick-start the project next month.
He also revealed that funding arrangements have been finalized with the African Development Bank.
Pitan emphasized that the program is tailored for youth below the age of 35, offering grants, loans, and equity, with the government hoping to nurture new unicorns in the startup ecosystem through this initiative.
