ENUGU, Nigeria (VOICE OF NAIJA) – The Federal Government of Nigeria has unveiled plans to initiate the $617.7 million Investment in Digital and Creative Enterprises program in November 2023.
The i-DICE program, originally launched in March under the past administration of President Muhammadu Buhari, is designed to foster innovation and generate employment opportunities within the technology sector.
According to a statement from the Presidency, Vice President Kashim Shettima, during a meeting at the Presidential Villa, has directed the i-DICE Steering Committee to ensure the program’s commencement before the end of November.
He emphasized the need for responsible management of the allocated funds and highlighted the transformative potential of the $617.7 million initiative.
READ ALSO: 85% Of Nigerian Graduates Lack Digital Skills- Report
Shettima stated: “Given the unique challenges facing our country, we must create jobs for our young population to address youth unemployment crises. I urge all stakeholders to work together to ensure this program kicks off by the end of November this year.”
He also expressed his commitment to providing ongoing support for the program, emphasizing President Bola Tinubu’s dedication to the country’s transformation.
The Minister of Finance, Wale Edun, underscored the project’s importance in fulfilling President Bola Tinubu’s promise to create 1.2 million digital jobs for young people. He highlighted the inclusivity aspect of the project, with 50 per cent participation by women.
READ ALSO: 20,000 Nigerians Set For Digital Empowerment In Google’s N1.2bn Initiative
Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, praised Nigeria’s thriving technology and creative ecosystem and stressed the government’s investment in technology startups as a means to establish global leadership.
Kayode Pitan, the Managing Director of the Bank of Industry, revealed that Vice President Kashim Shettima had given instructions to begin the project next month, with funding arrangements already in place, including support from the African Development Bank.
Pitan explained: “This initiative will encompass the digital, creative, and entertainment sectors, particularly those that engage the youth. The government is hoping that new unicorns will emerge from this program, benefiting young entrepreneurs below 35.”