The Federal Government, through its Investment in Digital and Creative Enterprises (iDICE) programme, has unveiled plans to introduce two additional investment funds in 2026 aimed at strengthening Nigeria’s technology and creative industries.
This initiative seeks to expand financing opportunities for startups across the country and comes shortly after the official commencement of iDICE investments, marked by an anchor investment in a new venture fund managed by Ventures Platform, a pan-African seed-stage investment firm.
Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the initiative as a significant stride toward unlocking the immense potential of Nigerian youth.
The new fund achieved a first close of $64 million last Thursday following investor commitments. Ventures Platform was appointed in August 2025 as the Fund Manager for the technology component of iDICE after a competitive bidding process overseen by the programme’s partners.
With this latest investment, iDICE has joined a consortium of institutional investors that includes the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII) in supporting the Ventures Platform fund, which is targeting a final close of $75 million.
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Shettima hailed the progress, stating, “The commencement of investing by iDICE is an exciting milestone and a leap forward in the determined efforts of the government of Nigeria, under the leadership of President Bola Ahmed Tinubu, to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope Agenda.”
Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, emphasized that the Federal Government’s investment in Ventures Platform Fund II demonstrates its continued commitment to advancing the nation’s technology and creative ecosystems by catalysing funding for high-growth, tech-enabled enterprises, according to The Guardian
According to Olusi, this development will play a pivotal role in driving Nigeria’s broader economic transformation agenda, generating large-scale employment opportunities, and empowering innovative entrepreneurs across the country.
Founding Partner at Ventures Platform, Kola Aina, also expressed optimism about the collaboration, saying, “We are delighted to have been selected as the iDICE Technology Fund Manager, partnering with the Federal Government of Nigeria and other key stakeholders to support young entrepreneurs and innovators to bring their ideas to life, creating deep value and transforming the country’s economy.”
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Image Credit: Punch Nigeria Limited
