The Federal Government has inaugurated a technical committee to launch the Investment in Digital and Creative Enterprises, iDICE, Programme.
This collaborative effort between the government and international partners, including the Bank of Industry, BoI, African Development Bank, AfDB, French Development Agency, FDA, and Islamic Development Bank, IDB, aims to nurture and empower enterprises in the digital and creative sectors.
Following the endorsement of the National Economic Council, NEC, in March, the $617.7 million i-DICE programme will be implemented in all 36 states of the federation and the Federal Capital Territory.
Speaking on Wednesday during the inauguration of the Technical Committee of the iDICE programme, the Vice President expressed optimism about the initiative’s potential to redefine the nation’s digital and creative landscape.
“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,” Shettima said
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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.
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 “represents a catalyst for transformation, a beacon of hope for future generations,” according to the Vice President. Tope Kolade Fasua, Special Adviser to the President on Economic Matters, Office of the Vice President, and Chairman of the Technical Committee on the iDICE Programme, stated that iDICE’s substantial financial backing highlights the programme’s potential to drive transformative change in Nigeria’s digital and creative sectors. “The AfDB guides the open and transparent process of selecting fund managers for the iDICE project. This method seeks to ensure that the best-qualified organizations are tasked with managing the program’s financial resources,” he stated. The AfDB has completed all required documentation and is ready to distribute funds subject to agreed terms, according to Fasua.
“Similarly, the French Development Agency, AFD, has signed the required documents, pending internal processes. The Islamic Development Bank, ISDB, 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.
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