Nigerian govt endorses $617.7m i-DICE programme for digital, creative incubation hubs

The National Economic Council (NEC) has endorsed the implementation of the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme in the 36 states of the federation and the FCT.

At its 140th meeting held virtually Thursday, chairman of the Council, Vice President Kashim Shettima declared the firm resolve of the renewed hope administration of President Bola Ahmed Tinubu to leave a legacy of prosperity and opportunity for all Nigerians.

He told state governors to nominate persons to represent each geo-political zone at the zonal level and focal persons to lead the implementation of the programme in their respective states.

He assured that as the scheme becomes operational in the coming weeks, implementation across the country will be diligent, committed and forthright.

In his opening remarks at the meeting, Sen. Shettima assured that the administration will not rest on its oars until the citizens begin to bask in the opportunities they were promised, noting that it is the reason the government was prioritizing skill acquisition and job creation.

Senator Shettima specifically noted that prioritizing whatever offers Nigerians a means to earn a living with dignity are part of President Tinubu’s eight-point agenda.

He said, “But two things are clear: one, we won’t ever regret paving the way for the acquisition of skills that meet the needs of the global markets; two, our actions today will shape the economic landscape of tomorrow, and so it’s incumbent upon us to ensure that we leave a legacy of prosperity and opportunity for all Nigerians.

“When we empower entrepreneurs and small business owners, we unlock the potential for innovation, job creation, and economic growth. By providing access to financing, training, and mentorship programs, we unleash the entrepreneurial spirit that lies within every Nigerian, catalysing a wave of economic prosperity that benefits us all. We cannot achieve this without inclusivity and equitable access to opportunities. This is the ladder we must offer to every disadvantaged citizen”.

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The VP noted that the government has “moved beyond mere deliberations to the implementation phase” and it is actively pursuing its “short-term goals en route to achieving our medium-term and long-term strategies.

“My confidence in our ability to fix our nation stems from the unity of purpose this Council has demonstrated. We have rejected binary thinking, resisted divisions, and relegated self-interest in favor of a shared vision for progress,” he added.

In his presentation on the i-DICE programme, the Executive Director in charge of SMES at the Bank of Industry, Mr Shekarau Omar said the i-DICE programme, a special intervention by government, aims to deliver on the promise by the Tinubu administration to create millions of jobs in the technology space.

Mr Omar explained that the programme is in support of government’s agenda to create more sustainable jobs, diversify the economy and equip digital and creative incubation hubs/innovation centers across the country.

He listed African Development Bank (AfDB), the French Development Agency (AFD) and the Islamic Development Bank (ISDB) among organisations that will fund the programme, giving a breakdown of how the funds will be sourced as follows: AfDB, $170million; IsDB, $70 million; AFD, $116 million; Bank of Industry (BOINigeria) on behalf of federal government of Nigeria (FGN), $45.50 million; Fund Manager (For Equity Fund only), $8.70 million, and private investors, $205 million.

On the impact of the programme, Mr Omar said 1,269,757 youths will be trained and certified in ICT skills, with at least 25,000 youths trained in each state of the federation and the FCT.

He noted that while at least 100,000 jobs will be created per state, about 5,581,231 indirect jobs will be created through i-DICE interventions nationwide.

By: Babajide Okeowo

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