Nigeria Govt Inaugurates Technical Committee for $617.7 Million i-DICE Program

Nigeria Govt Inaugurates Technical Committee for $617.7 Million i-DICE Program

The commencement of the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) Program saw the federal government establish a technical committee. Spearheaded by Vice-President Kashim Shettima in Abuja, the inauguration was marked by his optimism regarding the program’s potential to redefine Nigeria’s digital and creative landscape.

i-DICE, a collaborative effort between the government and esteemed international partners such as the Bank of Industry (BoI), African Development Bank (AfDB), French Development Agency (FDA), and Islamic Development Bank (IDB), aims to foster the growth of enterprises in the digital and creative sectors.

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Having garnered endorsement from the National Economic Council (NEC) in March, the program is slated for implementation across all 36 states of the federation and the Federal Capital Territory (FCT).

Vice-President Shettima disclosed the Ministry of Finance’s responsibility for promptly disbursing funds for i-DICE to ensure swift implementation. He characterized the initiative as a voyage of innovation, collaboration, and boundless opportunities capable of reshaping Nigeria’s digital and creative landscape.

Recognizing the importance of partnerships with institutions, Shettima commended the thorough preparations undertaken by the Ministry of Finance and partners, expressing confidence in the program’s preparedness to unleash its full potential.

Chairing the Technical Committee on the i-DICE program, Mr. Tope Fasua underscored the substantial financial support behind i-DICE, emphasizing its capacity to catalyze transformative change in Nigeria’s digital and creative sectors. Fasua outlined the transparent process guiding the selection of fund managers, overseen by the African Development Bank (AfDB).

He revealed that AfDB and the French Development Agency (AFD) had finalized the requisite documentation, with the Islamic Development Bank (ISDB) in the concluding stages. Fasua anticipated the first drawdown of funds on April 15th, marking a significant milestone in program implementation.

Expressing appreciation for the opportunity to contribute to societal impact and national development, Fasua extended gratitude to President Bola Tinubu for the chance to advance human capital and economic development in Nigeria.