The Nigerian government has launched a new initiative aimed at supporting young entrepreneurs and boosting economic growth in the country. The Inclusive Development Initiative for the Empowerment of Nigerians (iDICE) will provide funding and other support to young people looking to start or grow their businesses.
The iDICE program is being funded through the Bank of Industry, which will serve as the executing agency. A steering committee, chaired by the vice president’s office, will oversee the initiative in cooperation with a technical committee made up of business leaders and government ministries, departments, and agencies.
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Under the iDICE program, a new venture capital outfit called the DICE Fund will be created to draw additional funding from institutional and private investors. The fund will be focused on providing early-stage financing and other support to young entrepreneurs across a range of sectors, including agriculture, healthcare, and technology.
The iDICE program is part of a broader effort by the Nigerian government to support economic growth and create opportunities for young people. According to the World Bank, Nigeria has one of the youngest populations in the world, with over 60% of its population under the age of 25.
However, despite this demographic advantage, many young people in Nigeria face significant challenges in accessing financing and other resources needed to start and grow their businesses. The IDICEN program aims to address these challenges by providing targeted support to young entrepreneurs and helping them to access the resources they need to succeed.
The launch of the iDICE program has been widely welcomed by business leaders and other stakeholders in Nigeria. Many see it as a positive step towards creating a more inclusive and dynamic economy that can provide opportunities for all Nigerians, regardless of their age or background.
To learn more about the iDICE program and the work being done by the African Development Bank to support young people in Nigeria, visit their website https://www.afdb.org/en/africa-youth-hub or join the conversation on social media using the hashtag #IDICENigeria.
Source: https://www.afdb.org
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