The Vice President of Niga © ria, Yemi Osinbajo, African Development Bank President Akinwumi Adesina and partners launched the Digital and Creative Enterprise Investment Program (i-DICE) in Abuja.
The move marks the launch of a flagship initiative that will boost vital funding for Nigeria's digital and creative industries.
In addition to leaders from government, business, and development finance institutions, the event featured young people working in the digital technology and creative sectors, students, and investors.
i-DICE is an important step towards significantly increasing entrepreneurship and innovation in digital technology and the creative industries, which include film, fashion and music.
The program is part of Nigeria's federal government's efforts to rebuild better, greener, and more inclusively, and to create sustainable jobs for its growing youth population.
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It will consolidate the country's position as Africa's top destination for early investment and as a hub for youth entrepreneurship.
i-DICE is co-funded by the African Development Bank, the Islamic Development Bank and the French Development Agency.
Nigeria's federal government is providing counterpart funding through the Bank of Industry, which also serves as the implementing agency. A steering committee chaired by the vice president's office will oversee the initiative in cooperation with a technical committee composed of business leaders, and government ministries, departments and agencies.
The DICE Fund, a venture capital entity to be created under the program, will receive additional funding from institutional investors and other private investors.
