Home News VP Shettima launches $617.7m i-DICE programme

VP Shettima launches $617.7m i-DICE programme

by Haruna Gimba
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By Muhammad Amaan

The Vice-President of Nigeria, Kashim Shettima, said the $617.7million Investment in Digital and Creative Enterprises (i-DICE) Programme would redefine the nation’s digital and creative landscape.

He stated this on Wednesday at the inauguration of a technical committee to kick start the i-DICE programme, held at the Presidential Villa, Abuja.

I-DICE Programme, a collaborative effort between the government and international partners, including the Bank of Industry (BoI), African Development Bank (AfDB), French Development Agency (FDA) and Islamic Development Bank (IDB), aims to nurture and empower enterprises in the digital and creative sectors.

The National Economic Council (NEC) had, at its last meeting in March, endorsed the implementation of the programme in the 36 States of the federation and the Federal Capital Territory (FCT).

The Vice-President, who described the development as the dawn of a new era in Nigeria, revealed that the Ministry of Finance had been mandated to ensure the expeditious disbursement of funds for the iDICE Programme.

This, according to him, will pave the way for its swift implementation.

“We’ll embark on a journey of innovation, collaboration and boundless opportunities

“A journey that holds the power to redefine the trajectory of our nation’s digital and creative landscape.”

Shettima highlighted the significance of the partnerships forged with institutions, describing them as a “convergence of vision and purpose” in pursuit of shared prosperity.

He commended the meticulous preparations undertaken by the Ministry of Finance and partners, affirming the programme’s readiness to unleash its full potential.

“With every condition met, we stand poised to unleash the full force of i-DICE upon the world.”

He applauded the accomplishments of members of the programme coordination Unit, over the past year, including its establishment, procurement of fund managers and engagement with ecosystem stakeholders.

The Vice-President described them as a testament to Nigeria’s indomitable spirit of innovation.

According to him, the programme represents a catalyst for transformation and a beacon of hope for future generations.

Earlier, Chairman of the Technical Committee on the I-DICE programme, Mr Tope Fasua, noted that i-DICE’s substantial financial backing underscored the programme’s potential to drive transformative change in Nigeria’s digital and creative sectors.

Mr Fasua, who is also the Special Adviser to the Vice President on Economic Matters, disclosed that the selection of fund managers for the programme was being conducted through an open and transparent process.

According to him, the process is guided by the African Development Bank (AfDB) to ensure that the best-qualified firms are entrusted with managing the programme’s financial resources.

He said AfDB had completed all necessary documentation and was ready to disburse funds, subject to agreed terms.

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