The Federal Government will, in 2026, roll out two additional investment funds targeting Nigerian technology and creative startups under its Investment in Digital and Creative Enterprises (iDICE) programme, officials disclosed over the weekend.
The new financing windows, a creative sector fund, and a “fund of funds” for smaller investment vehicles are part of the government’s strategy to deepen capital access for young innovators nationwide and stimulate job creation under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The announcement came in a statement issued on Monday by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, as the iDICE Steering Committee marked what Vice President Kashim Shettima described as “an exciting milestone,” following a $64 million first close of a new venture fund anchored by Ventures Platform, a pan-African seed-stage investment firm. The fund targets a final close of $75 million.
Ventures Platform, appointed in August 2025 as the Technology Fund Manager for iDICE after a competitive process supervised by programme partners, now joins other institutional investors, including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII), in the vehicle.
“The commencement of investing by iDICE is a leap forward in our determined efforts to unleash the full potential of Nigeria’s young people,” Vice President Shettima said, noting that the programme aligns with the administration’s core vision of building a modern, innovation-driven economy.
Managing Director/Chief Executive Officer of the Bank of Industry, Dr Olasupo Olusi, said the iDICE-backed investment in Ventures Platform’s Fund II reflects the government’s commitment to catalysing growth across the technology and creative sectors.
“This development will contribute meaningfully to the nation’s broader economic transformation agenda, with goals to create jobs at scale and empower high-growth entrepreneurs,” the BoI chief stated.
Ventures Platform’s Founding Partner, Kola Aina, welcomed the partnership, expressing optimism that the collaboration will propel more young Nigerian founders into building globally competitive solutions.
“We are delighted to have been selected as the iDICE Technology Fund Manager… to support Nigeria’s young entrepreneurs and innovators,” he said.
The $617 million iDICE programme — supported by financing from the African Development Bank Group (AfDB), Islamic Development Bank (IsDB), and the French Development Agency (AFD) — aims to equip Nigerians aged 15 to 35 with technical skills, entrepreneurial support, and financing opportunities.
The Bank of Industry serves as a co-investor and implementing agency.
iDICE operates across three major pillars: skills and enterprise development; expanded access to finance through equity, quasi-equity, and debt instruments; and policy reforms to improve the business environment.
Ventures Platform, founded in 2016, has backed over 90 startups across Africa, including fintech leaders Paystack, Piggyvest, Moniepoint, and LemFi.
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