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JUST IN: Tinubu Govt Announces Fresh Investment Funds For Startups

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The Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme has unveiled plans to launch two additional funds in 2026 aimed at boosting Nigeria’s technology and creative

The initiative targets early-stage and growth-driven start-ups across the country.

The announcement was made as the iDICE Steering Committee, chaired by Vice President Kashim Shettima, confirmed the formal commencement of investments under the programme.

The milestone coincides with the successful $64 million first-round close of a new venture fund anchored by iDICE and managed by Ventures Platform, a leading pan-African seed-stage investor.

Ventures Platform was appointed Fund Manager for the technology component of iDICE in August 2025, following a competitive selection process supervised by the programme’s financing partners.

With the new capital, iDICE joins prominent institutional investors including the International Finance Corporation, Standard Bank of South Africa and British International Investment. The fund targets a final close of $75 million.

Vice President Shettima described the development as a major step toward unlocking the economic potential of young Nigerians.

The commencement of investing by iDICE is an exciting milestone and a leap forward in the determined efforts of the Government of Nigeria, under the leadership of His Excellency President Bola Ahmed Tinubu, to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda,” he said.

Managing Director/CEO of the Bank of Industry, Dr Olasupo Olusi, said the investment strengthens the Federal Government’s commitment to scaling up the technology and creative sectors through strategic funding.

According to him, the partnership with Ventures Platform will “catalyse meaningful investments in high-growth, technology-enabled ventures and contribute significantly to Nigeria’s broader economic transformation, job creation and entrepreneurial empowerment.”

Founding Partner of Ventures Platform, Kola Aina, expressed optimism about the collaboration.

“We are delighted to have been selected as the iDICE Technology Fund Manager, partnering with the Federal Government and other key stakeholders to achieve our collective goal of supporting Nigeria’s young entrepreneurs and innovators to bring their ideas to life, creating deep value and transforming the country’s economy,” he said.

Beyond the technology fund, iDICE confirmed that two additional funding structures will be rolled out in 2026:

A Creative Sector Fund, designed to invest directly in creative industry start-ups.

A Fund of Funds, which will invest in smaller funds supporting technology and creative-sector ventures.

The three funding channels will complement the programme’s broader agenda around enterprise development, skills acquisition, policy reforms and access to blended finance.

Naija News understands that iDICE is a $617 million programme launched by the Federal Government to support Nigerians aged 15–35 through enterprise funding, digital skills training and ecosystem development across the tech and creative sectors.

The programme is backed by the African Development Bank, Islamic Development Bank and the French Development Agency, with the Bank of Industry serving as co-investor and implementing agency.

Since its inception in 2016, Ventures Platform has invested in over 90 African start-ups, including Paystack, Piggyvest, Moniepoint and LemFi.

The new investments mark a fresh phase in Nigeria’s push to build a globally competitive innovation ecosystem.

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Shettima Steps Aside from Office After Three Years

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Vice-President Kashim Shettima on Thursday commenced a two-week leave — his first since assuming office over three years ago.

According to a statement issued by the media aide to the vice-president, Stanley Nkwocha, during the leave, the vice-president will devote time to study, reflect and do intellectual renewal as part of efforts to strengthen his capacity for continued service to the nation.

The leave offers Shettima an opportunity to review the administration’s ongoing programmes, deepen his understanding of emerging national and global policy issues, and prepare for the responsibilities ahead as the Federal Government intensifies the implementation of the Renewed Hope Agenda.

Since assuming office on May 29, 2023, the vice-president, the release stated, has remained actively engaged in the coordination and supervision of several strategic government initiatives, particularly in economic development, food security, humanitarian affairs, digital transformation, job creation and regional cooperation.

He has consistently chaired the monthly National Economic Council (NEC) meeting, which brings together the governors of the 36 states, the Governor of the Central Bank of Nigeria and other relevant public officials to deliberate on policies affecting the economy and the welfare of Nigerians.

Beyond his responsibilities within the country, Shettima has represented President Bola Tinubu at major international and regional engagements, advancing Nigeria’s position on economic integration, peace and security, climate action, investment and sustainable development. ExecutiveBranch

He remains deeply committed to the ideals of loyalty, duty and service that have defined his role in the administration, as well as to supporting President Tinubu’s efforts to build a more secure, productive and prosperous Nigeria.

The vice-president will return to office at the end of the two-week leave period and resume his official responsibilities with renewed energy and dedication to the service of the nation.

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Friday, August 7, Declared Public Holiday, Government Announces Reason

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Rwanda has declared Friday, August 7, 2026, a public holiday to mark Umuganura Day, a national harvest festival with roots stretching back to pre-colonial times.

Legit.ng reports that the announcement came from the Ministry of Public Service and Labour on Tuesday, August 4, 2026, and applies to workers across all sectors, both public and private.

The ministry said in its official statement:

“The Ministry of Public Service and Labour informs all employers and employees in both public and private sectors that Friday, August 7, 2026, will be a public holiday in celebration of Umuganura Day.” 

What is Umuganura Day?

Umuganura is one of Rwanda’s most significant cultural observances. The festival gives thanks to God and ancestors for the bounty of the land and marks the collective effort of communities in cultivating it. Despite being called a harvest festival, it is observed before the harvest begins, a tradition rooted in the practice of elders tasting the fruits of the new season before any family member is permitted to do so.

The celebration starts within individual families and then expands into wider community gatherings where traditional foods, crafts, and performances are shared. Rwandan restaurants and cultural centres, both at home and abroad, typically mark the occasion with special offerings tied to the country’s culinary heritage.

Agriculture sits at the heart of why the day carries such weight. About 80% of Rwanda’s labour force is engaged in farming activities, which contribute roughly 40% of the country’s Gross Domestic Product. Tea and coffee are the country’s most important cash crops, making up around 80% of its agricultural exports.

History of Umuganura festival

Umuganura has survived considerable upheaval. Germany colonised Rwanda in 1899 as part of German East Africa, and Belgium took control in 1916 during World War I. The prolonged period of colonial rule disrupted the festival, and it went uncelebrated for many years. Rwanda gained independence in July 1962, and the country gradually rebuilt its national identity in the decades that followed.

Despite its ancient origins, Umuganura was only formally recognised as a public holiday in 2011. Beyond its cultural significance, the day also serves as an occasion to reflect on the country’s yearly achievements across the sectors that drive national development.

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BREAKING: Nigerian Gov Announces 19 New Appointments

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Kano State Governor Abba Kabir Yusuf has approved the appointment of 19 new permanent secretaries and the redeployment of 14 others across Ministries, Departments and Agencies in the state civil service.

The state Head of Civil Service, Hajiya Bilkisu Shehu-Maimota, made this known through a statement released on Tuesday, August 4, in Kano, signed by the Director of Public Enlightenment in her office, Rukayya Uba-Sulaiman.

Uba-Sulaiman said the new appointments followed the recent promotion of qualified directors to the rank of permanent secretary, with the aim of strengthening government operations and improving service delivery across state agencies.

“The posting follows the recent upliftment of some deserving Directors to the position of Permanent Secretaries, which was aimed at re-strengthening the machinery of Government for an effective and efficient service delivery,” the statement read.

The statement conveyed the governor’s approval directly, noting that the exercise was designed to reposition the civil service for greater efficiency under the current administration.

Newly appointed permanent secretaries were urged to carry out their duties with diligence and competence in support of the government’s broader objectives, Punch reported.

According to the statement, the postings take immediate effect. All handover processes between outgoing and incoming officers are expected to be concluded no later than Wednesday, August 12, 2026.

Uba-Sulaiman described the appointments as a call to greater responsibility and selfless service to the people of Kano State, Vanguard reported.

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