The Federal Government has unveiled plans to launch two new investment funds in 2026 to strengthen Nigeria’s technology and creative sectors under the Investment in Digital and Creative Enterprises (iDICE) initiative.

The announcement came as the iDICE Steering Committee, chaired by Vice President Kashim Shettima, confirmed the formal commencement of investments under the programme.

A major milestone was achieved with the $64 million first-round close of a new venture fund anchored by iDICE and managed by Ventures Platform, a leading pan-African seed-stage investor. The fund targets a final close of $75 million, with contributions from global investors including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment.

Vice President Shettima described the development as “a leap forward in unlocking the economic potential of Nigeria’s young people”, aligning with President Bola Ahmed Tinubu’s Renewed Hope agenda.

Bank of Industry (BoI) CEO, Dr. Olasupo Olusi, said the partnership would catalyse investment in high-growth ventures, enhance job creation, and advance economic transformation.

Ventures Platform Founder, Kola Aina, expressed optimism, noting that the collaboration would empower Nigerian innovators to turn ideas into impactful businesses.

Beyond the technology fund, iDICE revealed that two more funding structures will be introduced in 2026 as part of its broader mission to enhance enterprise development, digital skills training, policy reforms, and access to blended finance.

Launched with a $617 million capital base, iDICE is supported by the African Development Bank (AfDB), Islamic Development Bank (IsDB), and French Development Agency (AFD), with the Bank of Industry serving as co-investor and implementing agency.