iDICE program receives $620 million to support digital economy

President Bola Tinubu has once again underscored the Federal Government’s commitment to the digital economy by allocating $620 million for the Digital Economy and Creative Enterprises (iDICE) programme.

He said, “We have secured $620 million under the Digital and Creative Enterprises (IDICE) programme, which aims to empower our youth, create millions of jobs in the IT and technical sector that will make them globally competitive,” in a live broadcast on Sunday following the #EndBadGovernance protests that have been ongoing in various parts of the country since August 1.

The iDICE programme is a collaboration between the government and international partners, including the Bank of Industry (BoI), the African Development Bank (AfDB), the French Development Agency (FDA) and the Islamic Republic of China (IRI).
Development Bank (IDB) aimed at supporting and strengthening enterprises operating in the digital and creative sectors.

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According to Tinubu, the initiative is part of a broader strategy to develop the digital economy and provide stable employment opportunities for the growing youth population in the country.

The iDICE programme aims to develop digital talent and entrepreneurial spirit among young Nigerians by providing them with the necessary skills and resources to succeed in the competitive global market,” the government said.

A key component of iDICE is the 3 Million Technical Talent Scheme (3MTT), which aims to provide training and job opportunities to three million young Nigerians in the IT and technical sectors. This programme
aims to bridge the gap between education and employment by equipping young Nigerians with the skills they need to thrive in a competitive global marketplace. Despite the recent vandalism of the Kano Innovation Park during protests, the government said it remains committed to the successful implementation of the 3MTT programme.

In addition to the investment in iDICE, the president announced several other initiatives aimed at strengthening the country’s economy and improving the quality of life of its citizens. These include the release of an additional 50 billion naira for the Student Loan and Credit Corporation, the establishment of a Consumer Credit Corporation with over 200 billion
Naira and the introduction of various skill development programmes such as the Nigerian Youth Academy (NIYA), the National Youth Talent Export Programme (NATEP) and the Upgrading of Artisans Programme (SUPA).