Tinubu Govt Announces Fresh Investment Funds For Startups

The Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme has unveiled plans to launch two additional funds in 2026 aimed at boosting Nigeria’s technology and creative industries.

The initiative targets early-stage and growth-driven start-ups across the country. The announcement was made as the iDICE Steering Committee, chaired by Vice President Kashim Shettima, confirmed the formal commencement of investments under the programme.

The milestone coincides with 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.

Ventures Platform was appointed Fund Manager for the technology component of iDICE in August 2025, following a competitive selection process supervised by the programme’s financing partners.

With the new capital, iDICE joins prominent institutional investors including the International Finance Corporation, Standard Bank of South Africa and British International Investment. The fund 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 Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme has unveiled plans to launch two additional funds in 2026 aimed at boosting Nigeria’s technology and creative industries.

The initiative targets early-stage and growth-driven start-ups across the country.

The announcement was made as the iDICE Steering Committee, chaired by Vice President Kashim Shettima, confirmed the formal commencement of investments under the programme.

The milestone coincides with 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.

Ventures Platform was appointed Fund Manager for the technology component of iDICE in August 2025, following a competitive selection process supervised by the programme’s financing partners.

With the new capital, iDICE joins prominent institutional investors including the International Finance Corporation, Standard Bank of South Africa and British International Investment. The fund 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 deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda,” he said.

Managing Director/CEO of the Bank of Industry, Dr Olasupo Olusi, said the investment strengthens the Federal Government’s commitment to scaling up the technology and creative sectors through strategic funding.

According to him, the partnership with Ventures Platform will “catalyse meaningful investments in high-growth, technology-enabled ventures and contribute significantly to Nigeria’s broader economic transformation, job creation and entrepreneurial empowerment.”

The programme is backed by the African Development Bank, Islamic Development Bank and the 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 investments mark a fresh phase in Nigeria’s push to build a globally competitive innovation ecosystem.