The Nigerian government is deploying a sophisticated public capital strategy to construct a complete funding ladder for its innovation economy, announcing the 2026 launch of two new funds under the landmark $617 million iDICE programme.
This second-phase initiative will introduce a dedicated Creative Sector Fund and a “Fund of Funds,” strategically designed to inject capital into niche areas and smaller, emerging fund managers nationwide. The move represents a deliberate escalation from initial anchor investments to building a self-sustaining, multi-layered financial infrastructure for young entrepreneurs.
Vice President Kashim Shettima, chair of the iDICE Steering Committee, hailed the strategic rollout as an “exciting milestone” in the administration’s plan to fully harness the potential of Nigerian youth and cement the country’s status as Africa’s leading startup destination.
The announcement follows the programme’s first major financial execution: an anchor investment in Ventures Platform Fund II, which successfully leveraged government backing to attract global institutions like the International Finance Corporation (IFC) and British International Investment (BII) to a $64 million first close.
The iDICE programme, a collaborative effort with the African Development Bank (AfDB), Islamic Development Bank (IsDB), and French Development Agency (AFD), is architected around three core pillars: skills development, financing, and an enabling policy environment. Managed by the Bank of Industry, its comprehensive approach ensures that trained talent has access to sequenced capital—from early-stage venture funds to specialized creative finance—and operates within a supportive regulatory framework.
By methodically moving from a general technology fund to specialized creative and fund-of-fund vehicles, iDICE is not merely distributing capital but engineering a resilient financial ecosystem. This structured public intervention is designed to de-risk the market for private investors, stimulate innovation-driven growth, and systematically execute the economic transformation goals of the Renewed Hope Agenda.
