The Federal Government, through its Investment in Digital and Creative Enterprises (iDICE) programme, has announced plans to introduce two additional funds in 2026 to boost Nigeria’s technology and creative sectors.

The initiative is targeted at expanding financing opportunities for startups across the federation.This development follows the formal commencement of iDICE investments, marked by an anchor investment in a new venture fund led by Ventures Platform, a pan-African seed-stage investment firm.

Vice President Kashim Shettima, who chairs the iDICE Steering Committee, described the move as a major step toward unlocking the potential of Nigerian youth.

The new fund secured a first close of $64 million last Thursday based on investor commitments. Ventures Platform was appointed in August 2025 as Fund Manager for the technology component of iDICE after a competitive bidding process overseen by programme partners.

With the latest investment, iDICE joins a consortium of institutional investors, including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII), in the Ventures Platform fund, which aims for a final close of $75 million.

Shettima earlier hailed the milestone, saying: “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/CEO of the Bank of Industry, Dr Olasupo Olusi, noted that the Federal Government’s investment in Ventures Platform Fund II reinforces its commitment to improving the country’s technology and creative sectors by catalysing funding for high-growth, tech-enabled enterprises.

According to him, the development will contribute meaningfully to the nation’s broader economic transformation agenda, with goals to create jobs at scale and empower high-growth entrepreneurs across the country.

Founding Partner at Ventures Platform, Kola Aina, welcomed the partnership, noting: “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.”