Nigeria to deepen investments in tech startups with new funds; IDICE program seeks to boost creative and tech industries.

Nigeria's Investment in Digital and Creative Enterprises (iDICE) program reflects a proactive approach by the government to invest in startups, aiming to significantly enhance the country's tech and creative landscapes.

Launched in 2023, the iDICE program is designed to provide crucial financial backing to entrepreneurial ventures in a nation recognized as Africa's largest startup ecosystem.

The government’s announcement highlights the urgent need for investment in this sector, which has the potential to create numerous job opportunities and promote sustainable economic growth.

“These funds are crucial for nurturing innovation and supporting job creation in Nigeria,” officials stated, emphasizing the importance of this initiative.

As Lagos continues to evolve as a regional tech hub, the new funding will facilitate the growth of various sectors within Nigeria's economy, including technology and the creative arts.

With over 60% of the population under 25, fostering a vibrant tech scene is seen as a necessary step toward reducing unemployment, particularly among youth.

Nigeria remains home to Africa's largest startup ecosystem, and this investment is anticipated to bolster the country's global competitiveness.

Experts believe that with adequate funding, Nigerian startups will be better equipped to innovate and scale their solutions effectively.

Nigeria plans to boost investments in tech startups through the Investment in Digital and Creative Enterprises (iDICE) program, aimed at enhancing the country's tech and creative industries. This initiative comes at a pivotal time as Nigeria maintains Africa's largest startup ecosystem with Lagos as a key tech hub.