NIGERIA and France have signed an agreement worth about $600m under the investment in digital and creative enterprise, I-DICE in Abuja.
According to both countries, the purpose of the programme, which is an initiative of the Federal Government of Nigeria, is aimed at promoting entrepreneurship and innovation in the digital technology and creative industry.
During the signing ceremony, both Ms. Catherine Colonna, the French Minister of Foreign Affairs, and Mr. Bosun Tijani, the Minister of Communication and Digital Economy, emphasized that the program would have a positive impact on young Nigerians and contribute to the creation of sustainable employment opportunities.
“Those digital technology and creative industries have indeed enormous potential to create jobs and spur economic growth in Nigeria.
“And we are very pleased that the French Agency for Development is stepping into these sectors, enabling us to scale up significantly our actions through the I-DICE program,” Colonna said.
She stated that the program is planned to teach roughly 2 million youths, 40% of whom are women, and to generate more than 65 000 start-ups, 150 000 direct jobs in the technology and creative industries sectors, and approximately 1.3 million indirect jobs.
The financing was provided by the French Development Agency (AFD), the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the Bank of Industry (BOl).
The AFD is providing €100 million (equal to $116 million) toward the $600 million cost of I-DICE.
The program will also be supported and funded by the corporate sector and institutional investors. The Bank of Industry will coordinate the project’s day-to-day operations as the Implementing Agency.
She stated that the program is planned to teach roughly 2 million youths, 40% of whom are women, and to generate more than 65 000 start-ups, 150 000 direct jobs in the technology and creative industries sectors, and approximately 1.3 million indirect jobs.
The financing was provided by the French Development Agency (AFD), the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the Bank of Industry (BOl).
The AFD is providing €100 million (equal to $116 million) toward the $600 million cost of I-DICE.
The program will also be supported and funded by the corporate sector and institutional investors. The Bank of Industry will coordinate the project’s day-to-day operations as the Implementing Agency.
She added that, “Digital technology and creative industries have indeed enormous potential to create jobs and spur economic growth in Nigeria. In this context, [President Macron] reaffirmed his commitment for cooperation in these digital and creative industries with the launch of the African CCI forum that was just held last month in presence of an important Nigerian Delegation.”
The Vice President, Kashim Shettima , through his representative Bosun Tijani, stated: “As part as our efforts to stimulate the growth of the Nigerian economy and mainstream the application of technology in critical sectors, we welcome the support of the French government as they collaborate with us to leapfrog technological advancements for the benefit of our startup ecosystem. This funding from the AFD for the I-DICE programme is testament to France’s historical commitment to the growth of startups which is evidenced by its position as a leading startup destination in Europe”.
