The Federal Government is making more than $600m in financing available to support Nigeria’s digital and creative industries, with young entrepreneurs and businesses expected to benefit through the Investment in Digital and Creative Enterprises (iDICE) programme.
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The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this on Thursday at the opening of the 2026 Creative Africa Nexus Weekend (CANEX WKND) in Lagos.
Oduwole said the financing was being unlocked through the Bank of Industry (BOI), with the leadership of the Office of the Vice-President. The iDICE initiative is valued at $617m and is being implemented by BOI in partnership with development finance institutions.
The programme targets young Nigerian entrepreneurs and businesses in the technology and creative sectors. Its support areas include enterprise development, skills acquisition, access to finance and infrastructure.
Oduwole said the government wanted investment to reach businesses across the creative value chain, including film, music, performing arts, literature, fashion, gastronomy, sports, gaming, crafts, design and creative technology.
She said Nigerian creatives were already engaging with institutional partners to explore financing opportunities. The government, she added, wanted businesses in different segments of the industry to secure investment deals.
The minister cited the investment in Mavin Records as an example of how institutional capital could generate commercial returns from Nigeria’s creative industry. Kupanda Capital and TPG Group invested more than $10m in the music label in 2019. Universal Music Group acquired a majority stake in Mavin in 2024, providing an exit opportunity for TPG.
Oduwole said the government wanted more of the profits generated by Nigerian creative works to remain with local businesses and creators.
She also highlighted policy measures aimed at improving market access and protecting intellectual property (IP). Nigeria was named co-champion of the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade in February 2025, which could help creative businesses sell services across African markets.
The Federal Executive Council (FEC) approved Nigeria’s first National Intellectual Property Policy and Strategy in November 2025. The policy is intended to help creators protect their work and earn income from their IP.
The government also released a Creative Sector Investment Playbook at the World Economic Forum in Davos in January 2026. It identifies investment opportunities, including studios and the nationwide distribution of Nigerian content.
CANEX registration reached 17,000, compared with 6,000 at the previous edition, organisers said Friday.
At the event, Vice-President Kashim Shettima said the government was working to strengthen IP protection, expand financing and position Nigeria to benefit from creative trade under AfCFTA. He urged businesses to use CANEX to secure investment, distribution agreements and commercial partnerships.
Shettima also disclosed that the African Export-Import Bank (Afreximbank) had committed $2bn to the continent’s creative industries through 2027.
How to benefit
The iDICE programme is designed to support eligible young entrepreneurs and businesses in Nigeria’s technology and creative sectors. Those working in areas such as film, music, fashion, gaming, digital technology and creative infrastructure should monitor announcements from the Bank of Industry and official iDICE channels for details of funding windows, eligibility conditions and application procedures.
The $617m figure represents the programme’s overall financing initiative; it does not mean every applicant will receive a grant or that applications are currently open. Applicants should rely on official programme announcements and avoid paying agents who promise guaranteed access to funding.
