Nigeria and France have solidified a significant partnership with the signing of a $600 million agreement for the Investment in Digital and Creative Enterprise (I-DICE) programme in Abuja.
This initiative, driven by the Federal Government of Nigeria, aims to foster entrepreneurship and innovation in the digital technology and creative industries.
During the signing ceremony, Ms. Catherine Colonna, the French Minister of Foreign Affairs, and Mr. Bosun Tijani, the Minister of Communication and Digital Economy, emphasised the positive impact the I-DICE program will have on young Nigerians by creating sustainable employment opportunities.
Colonna stated, “Those digital technology and creative industries have 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 programme”.
“The I-DICE program is expected to train approximately 2 million youths, with 40% of them being women. It also aims to establish more than 65,000 startups, generate 150,000 direct jobs in the technology and creative industries, and create approximately 1.3 million indirect jobs,” she added.
The financing for I-DICE is a collaborative effort, with contributions from the French Development Agency (AFD), the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the Bank of Industry (BOI). The AFD is contributing €100 million (equivalent to $116 million) of the $600 million total.The program will also receive support from the private sector and institutional investors.
The Bank of Industry, Parallel Facts gathered, will serve as the Implementing Agency, coordinating the day-to-day activities of the project.
Ms. Colonna highlighted France’s commitment to support youth, vocational training, cultural and creative industries as strong drivers of the national economy.
She stressed, “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”.
In expressing gratitude for France collaboration, Kashim Shettima , through his representative Bosun Tijani, said: “As part of 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”.