The Nigerian creative industry has lots of potentials, but it has been largely affected by inadequate support, especially finance. With proper funding, it will begin to attract more global appeal.
However, there seems to be a ray of hope after the launch of the “Investment in Digital and Creative Enterprises (i-DICE)” program in Abuja on Monday.
Prof. Yemi Osinbajo, Vice President of Nigeria, Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), and other partners were all present during the launch.
The initiative, which aims to attract critical funding to Nigeria’s digital and creative industries, is co-financed by AfDB, the Islamic Development Bank, and the Agence Française de Développement, with the Bank of Industry providing counterpart funding (BoI).
According to an AfDB statement, the launch will mark the beginning of a flagship initiative aimed at providing critical funding to Nigeria’s digital and creative industries.
AfDB, in a statement, said the launch would mark the rollout of a flagship initiative that would drive vital funding for Nigeria’s digital and creative industries.
In addition, the leaders of government, corporations, and development finance institutions, investors, students, and other young people working in the digital technology and creative sectors will attend the event.
The African Development Bank (AfDB) described i-DICE as a major action plan aimed at significantly scaling up entrepreneurship and innovation in digital technology and creative industries such as film, fashion, and music.
The program is part of the Federal Government of Nigeria’s efforts to build a better, greener, and more inclusive economy while also creating long-term employment opportunities for the country’s youth.
It is intended to strengthen the country’s position as Africa’s leading start-up investment destination and hub for youth entrepreneurship. According to the statement, the Federal Government of Nigeria is providing counterpart finance through the BoI, which also serves as the executing agency.
It was also stated that a steering committee chaired by the Vice President’s Office would oversee the initiative in collaboration with a technical committee comprised of business leaders as well as representatives from ministries.
