The federal government has initiated the Investment in Digital and Creative Enterprises (i-DICE) Program, a significant move aimed at transforming Nigeria’s digital and creative industries backed by $617.7 million. Vice-President Kashim Shettima inaugurated the technical committee responsible for kickstarting the program in Abuja on Wednesday, expressing optimism about its potential to reshape the nation’s digital and creative landscape.
The i-DICE Program, a collaborative effort between the government and esteemed international partners including the Bank of Industry (BoI), African Development Bank (AfDB), French Development Agency (FDA), and Islamic Development Bank (IDB), seeks to nurture and empower enterprises operating within these sectors. The endorsement of the program’s implementation in all 36 states of the federation and the Federal Capital Territory (FCT) by the National Economic Council (NEC) further underscores its significance.
Vice-President Shettima described the launch as a pivotal moment for Nigeria, signaling the dawn of a new era. He disclosed that the Ministry of Finance has been entrusted with ensuring the expeditious disbursement of funds to facilitate the swift implementation of the i-DICE Programme.
Highlighting the importance of partnerships with esteemed institutions, Shettima emphasized the alignment of vision and purpose in driving shared prosperity. He commended the meticulous preparations undertaken by the Ministry of Finance and partner organizations, affirming the program’s readiness to unleash its full potential in reshaping Nigeria’s digital and creative sectors.
Tope Fasua, Chairman of the Technical Committee on the i-DICE program and Special Adviser to the President on Economic Matters, underscored the program’s substantial financial backing and its potential to catalyze transformative change. Fasua noted that the selection of fund managers is being conducted transparently under the guidance of the African Development Bank (AfDB) to ensure optimal management of financial resources.
Fasua revealed that necessary documentation has been completed by AfDB and the French Development Agency (AFD), with funds poised for disbursement pending internal processes. The Islamic Development Bank (ISDB) is in the final stages, awaiting approval from the Ministry of Finance for one final document. Anticipation surrounds the program’s first drawdown of funds scheduled for April 15th, marking a significant milestone in its implementation.
Expressing gratitude to President Bola Tinubu for the opportunity to contribute to societal and economic development, Fasua reiterated the committee’s commitment to advancing Nigeria’s human capital and economic prosperity through the i-DICE Program.
