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FG to launch $617 million i-DICE initiative in November 

The Federal Government has proposed November 2023 to launch the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme, which is aimed at creating millions of jobs in the technology space.

To that effect, Vice President Kashim Shettima has given a marching order to members of the i-DICE Steering Committee to make sure that the program starts before the end of November this year.

The VP gave the directive on Friday when the i-DICE team gave him an update on the progress made so far during a meeting at the Presidential Villa, Abuja.

According to a statement from the Presidency, at the meeting, Shettima emphasized the importance of the initiative to the Federal Government’s digital jobs drive, saying the administration is keen on delivering on its promises to Nigerians.

Accordingly, he urged all partners in the i-DICE program to ensure judicious utilization of the funds, noting that the $617.7 million scheme could be a game changer.

Emphasizing the importance of the program in creating jobs for Nigerians, the Vice President said:

Speaking with State House correspondents shortly after the meeting, Minister of Finance, Mr Wale Edun described the project as “very key to the promise of President Bola Tinubu, particularly to the youth, for the creation of 1.2 million digital jobs.

 

On his part, Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, said the scheme is a unique opportunity.

 

Also speaking, the Managing Director of the Bank of Industry, Mr Kayode Pitan, hinted that the Vice President gave them marching orders to start by next month.

According to him, the funding has been concluded with the African Development Bank (AfDB), the French Development Agency (AFD), and the Islamic Development Bank (IsDB).

The i-DICE program was launched in March this year under the immediate past administration of President Muhammadu Buhari.

The immediate past Vice President Yemi Osinbajo, who presided over the launch The VP disclosed that the AFDB would provide $170 million, the Agence Francaise de Development $116m, and the Islamic Development Bank would provide $70 million in co-financing.

Another $271m is expected from the private sector and institutional investors, he noted.

Osinbajo observed that the launch of the (i-DICE) Programme was a significant milestone by the Nigerian government in its continued efforts to harness the potential of its youth population and create more jobs.

Osinbajo observed that the launch of the (i-DICE) Programme was a significant milestone by the Nigerian government in its continued efforts to harness the potential of its youth population and create more jobs.

 

 

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