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Nigeria has begun providing $672 million to support tech and creative startups.


To encourage entrepreneurship and the development of jobs in Africa’s largest economy, the Nigerian government has established a $672 million fund aimed at young business owners in the technology and creative industries.

Vice President Yemi Osinbajo announced the Investment in Digital and Creative Enterprises Programme (I-DICE) on March 14, 2023. This program is for young Nigerians between the ages of 15 and 35 involved in creative, innovative, and tech-enabled businesses in their early stages.

The government says it will give $45 million, and the private sector will offer $271 million. The Agence Francaise de Development will provide $116 million, the African Development Bank will give $170 million, and the Islamic Development Bank will provide $70 million.

Nigeria has the most startups in Africa, most of which are in the fintech field, and has gotten a lot of money from banks and venture capital firms outside of Africa.

The I-DICE initiative will likely make it easier for young entrepreneurs in Nigeria’s tech and creative sectors to get funding and create a better environment for their growth and development.




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