The Federal Government has concluded plans to introduce two new investment funds aimed at strengthening the start-up ecosystem and expanding financing access for Nigeria’s rapidly growing digital and creative industries.
The initiative, which is part of the Investment in Digital and Creative Enterprises (DICE) programme, will see the creation of a Creative Sector Fund and a Fund-of-Funds vehicle expected to be managed through partnerships with private investors and international development institutions.
The move follows the successful close of the first round of funding for Ventures Platform, a venture capital firm leading investment in early-stage African start-ups. The new funds are projected to attract both local and international participation, unlocking fresh capital for innovation-driven enterprises and youth-led ventures across Nigeria.
Officials at the Ministry of Industry, Trade and Investment said the scheme aligns with the President’s Renewed Hope Agenda, which prioritises job creation, digital transformation, and the development of a knowledge-based economy. The two new funds will be structured to de-risk start-up investment, stimulate private-sector confidence, and support export-ready tech solutions.
Government agencies such as the Bank of Industry, the Nigerian Sovereign Investment Authority, and the Small and Medium Enterprises Development Agency of Nigeria are expected to play key roles in fund management and monitoring. The programme will also complement existing innovation clusters, ensuring that entrepreneurs in both rural and urban areas benefit from capacity-building and mentorship support.
