By: ThinkBusiness Africa
Nigerian vice president, Kashim Shettima, said the government through its Investment in Digital and Creative Enterprises (iDICE) programme, has officially commenced its investment activities and announced on Monday its ambitious plans to launch two additional investment funds in 2026 to further bolster Nigerian start-ups in the technology and creative sectors.
iDICE programme has successfully achieved a $64 million first-round close, based on commitments from institutional investors, and is targeting a final close of $75 million. iDICE joins other prominent Limited Partners (LPs) in the fund, including the International Finance Corporation (IFC), Standard Bank of South Africa, and British International Investment (BII).
According to the vice president Ventures Platform – a prominent pan-African seed-stage fund. was officially appointed as the Fund Manager for the technology component of iDICE in August 2025, following a rigorous competitive bidding process supervised by the funding partners.
Vice President Shettima, Chair of the iDICE Steering Committee, described the commencement of investing as an “exciting milestone and a leap forward in the determined efforts of the Government of Nigeria… to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda.” He said.
Kola Aina, Founding Partner at Ventures Platform, expressed his delight in the selection, stating, “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 achieve our collective goal of supporting Nigeria’s young entrepreneurs and innovators to bring their innovative ideas and solutions to life—creating deep value and transforming the country’s economy.”
Since its inception in 2016, Ventures Platform has invested in over 90 start-ups across Africa, including industry leaders such as Paystack, Piggyvest, Moniepoint, and LemFi.
iDICE revealed plans to launch two additional funds in 2026, separate from its current technology-focused investments:
- “A Creative Sector Fund” dedicated to investing directly in creative sector start-ups.
- ‘Fund of Funds’ will invest in smaller funds that support both technology and creative sector start-ups, acting as a crucial enabler for the broader ecosystem.
The iDICE programme is a substantial $617 million initiative launched by the Federal Government to support young Nigerians aged 15-35 with skills and resources in the technology and creative economy sectors.
The digital economy has seen explosive growth, with revenues projected to reach US$18.30 billion by 2026. The technology sector is a vital component of the national economy, contributing a massive 19.78% to Nigeria’s real Gross Domestic Product (GDP) in the second quarter of 2024, according to Nigeria bureau of statistics (NBS).
Nigeria is the number one destination in Africa for start-up investment. The ecosystem attracted over $3 billion by 2025, with the presence of several globally recognized companies.
The west African nation is home to 5 out of the 7 tech unicorns in Africa, including giants like: Flutterwave, OPay, Moniepoint (achieved unicorn status with a $1 billion valuation), Paystack, and Interswitch
