FG initiative targets capital gap in Nigeria’s creative economy

The Nigerian government's Investment in Digital and Creative Enterprises (iDICE) programme aims to address the capital gap in the country's growing creative economy. According to Ife Adebayo, National Coordinator of iDICE, Nigeria has abundant creative talent but lacks the necessary capital, skills, infrastructure, and systems to turn this talent into sustainable businesses.

The iDICE Programme, implemented by the Bank of Industry, focuses on skills development, enterprise support, and access to finance, with the goal of providing a path from skills development to enterprise and financing. The financing structure includes the iDICE Fund of Funds, with a target capitalisation of $170.6 million, and the BOI's iDICE Debt Fund and Islamic Development Bank Murabaha Debt Fund, which together have $110 million earmarked for technology and creative-sector startups.

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