The Federal Government has initiated the formation of a technical committee to launch the Investment in Digital and Creative Enterprises, iDICE, Programme, a significant step hailed by Vice President Kashim Shettima as the beginning of a new era in Nigeria.
The iDICE Programme, a collaborative venture between the government and various international partners such as the Bank of Industry, African Development Bank, French Development Agency, and Islamic Development Bank, is designed to foster the growth and empowerment of enterprises within the digital and creative sectors.
Prior to the endorsement of the $617.7 million i-DICE program by the National Economic Council during its recent March meeting, its implementation is set to encompass all 36 states of the federation and the Federal Capital Territory.
“We embark on a journey of innovation, collaboration, and boundless opportunity – a journey that holds the power to redefine the trajectory of our nation’s digital and creative landscape,” VP Shettima said.
The Vice President revealed that the Ministry of Finance has been mandated to ensure the expeditious disbursement of funds for the iDICE Programme, paving the way for its swift implementation.
He highlighted the significance of the partnerships forged with institutions, describing them as a “convergence of vision and purpose” in pursuit of shared prosperity.
The VP commended the meticulous preparations undertaken by the Ministry of Finance and partners, affirming the programme’s readiness to unleash its full potential.
“With every condition precedent met, we stand poised to unleash the full force of iDICE upon the world,” he said.
Senator Shettima applauded the accomplishments of the programme coordination Unit over the past year, including its establishment, procurement of fund managers, and engagement with ecosystem stakeholders, describing them as a testament to Nigeria’s indomitable spirit of innovation.
The iDICE Programme, according to the VP, “represents a catalyst for transformation, a beacon of hope for future generations.”
In the same vein, the Special Adviser to the President on Economic Matters and chairman of the Technical Committee on the iDICE programme, Tope Kolade Fasua, noted that iDICE’s substantial financial backing underscores the programme’s potential to drive transformative change in Nigeria’s digital and creative sectors.
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“The selection of fund managers for the iDICE programme is being conducted through an open and transparent process, guided by the African Development Bank (AfDB). This approach aims to ensure that the best-qualified firms are entrusted with managing the programme’s financial resources,” he said.
Fasua added that the AfDB has completed all necessary documentation and is ready to disburse funds, subject to agreed terms.
“Similarly, the French Development Agency has signed the required documents, pending internal processes. The Islamic Development Bank is in the final stages, with one last document awaiting approval from the Ministry of Finance.
“With the groundwork laid, the committee anticipates the first drawdown of funds on April 15th, marking a significant milestone in the programme’s implementation,” he further noted.
Fasua expressed gratitude to President Bola Ahmed Tinubu for the opportunity to serve and contribute to societal impact and the nation’s human capital and economic development.
