FG has announced new funds to boost Nigeria’s Tech and Creative Start-Ups in 2026.
NewsOnline Nigeria reports that the Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme has unveiled plans to launch two additional funds in 2026 aimed at accelerating growth in Nigeria’s technology and creative sectors. The initiative targets early-stage and high-growth start-ups across the country.
The announcement coincided with the formal commencement of investments under iDICE, confirmed by the programme’s Steering Committee, chaired by Vice President Kashim Shettima. This milestone follows the successful $64 million first-round close of a new venture fund anchored by iDICE and managed by Ventures Platform, a leading pan-African seed-stage investor.
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Ventures Platform was appointed as Fund Manager for iDICE’s technology component in August 2025, after a competitive selection process overseen by the programme’s financing partners. The fund, which now joins investors including the International Finance Corporation, Standard Bank of South Africa, and British International Investment, targets a final close of $75 million.
Vice President Shettima described the development as a major step toward unlocking the economic potential of young Nigerians:
“The commencement of investing by iDICE is an exciting milestone and a leap forward in the determined efforts of the Government of Nigeria, under the leadership of His Excellency President Bola Ahmed Tinubu, to unleash the full potential of Nigeria’s young people, in line with the Renewed Hope agenda.”
Dr. Olasupo Olusi, Managing Director/CEO of the Bank of Industry, said the programme underscores the government’s commitment to scaling technology and creative industries through strategic funding. He added that the partnership with Ventures Platform will catalyse meaningful investments in high-growth, tech-enabled ventures, driving economic transformation, job creation, and entrepreneurial empowerment.
Kola Aina, Founding Partner of Ventures Platform, expressed optimism about the collaboration:
“We are delighted to have been selected as the iDICE Technology Fund Manager, partnering with the Federal Government and other key stakeholders to support Nigeria’s young entrepreneurs and innovators to bring their ideas to life, creating deep value and transforming the country’s economy.”
Plans for 2026
Beyond the technology fund, iDICE will roll out two additional funding structures next year:
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Creative Sector Fund – investing directly in start-ups within Nigeria’s creative industries.
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Fund of Funds – investing in smaller funds that support technology and creative-sector ventures.
The three funding channels will complement iDICE’s broader agenda, including enterprise development, skills acquisition, policy reforms, and access to blended finance.
Launched with $617 million in backing, iDICE supports Nigerians aged 15–35 through enterprise funding, digital skills training, and ecosystem development in the tech and creative sectors. The programme is supported by the African Development Bank, Islamic Development Bank, and French Development Agency, with the Bank of Industry serving as co-investor and implementing agency.
Since its inception in 2016, Ventures Platform has invested in over 90 African start-ups, including Paystack, Piggyvest, Moniepoint, and LemFi. The new investment phase signals a renewed push to build a globally competitive innovation ecosystem in Nigeria.
