i-DICE: Osinbajo launches Investment in Digital and Creative Enterprises Programme

Vice President Yemi Osinbajo, SAN, at the inauguration of the i-DICE programme, standing (right) with African Development Bank (AfDB) president, Dr Akinwunmi Adesina, on Tuesday, March 14, 2023. Photos: Statehouse/Tolani Alli

Vice President Yemi Osinbajo, SAN, has launched an initiative called the Investment in Digital and Creative Enterprises (i-DICE) Programme at a ceremony held in Abuja, on Tuesday, March 14, 2023.

The programme which was in partnership with the African Development Bank (AfDB), had its president, Dr Akinwumi Adesina, and other partners in attendance, at the Statehouse, Abuja, venue of the programme.

Also in attendance at the programme include ministers, and other senior officials; heads of the African Development Bank Group, Agence Française de Développement, the Islamic Development Bank, and representatives/stakeholders from the digital and creative industries.

The event also featured youths working in the digital technology and creative sectors, students, and investors, who joined the leaders of government, corporations, and development finance institutions at the inauguration ceremony.

The i-DICE launch, also known as IDICENigeria, “marks the rollout of a flagship initiative that will drive vital funding for Nigeria’s digital and creative industries.”

The i-DICE initiative has been described as a major step toward significantly upscaling entrepreneurship and innovation in digital technology and creative industries, which include film, fashion, and music.

The programme is part of the Federal Government of Nigeria’s efforts to build back better, greener, and more inclusively, and to create sustainable jobs for its surging youth population. It will consolidate the country’s position as Africa’s leading start-up investment destination and youth entrepreneurship hub.

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The AfDB in a release said “i-DICE is co-financed by the African Development Bank, the Islamic Development Bank and Agence Française de Développement.

“The Federal Government of Nigeria is providing counterpart finance through the Bank of Industry, which also serves as the executing agency. A steering committee chaired by the vice president’s office will oversee the initiative in cooperation with a technical committee made up of business leaders, and government ministries, departments, and agencies.”

It also informed that “the DICE Fund, a venture capital outfit to be created under the programme, will draw additional funding from institutional and other private investors.”