The Nigerian government has signed an agreement with France for the iDICE program.
iDICE stands for Investment in Digital and Creative Enterprises. As explained by the African Development Bank, “It is an initiative of the Federal Government of Nigeria to promote entrepreneurship and innovation in the digital technology and creative industries in the context of efforts to create jobs, especially for young people.”
According to Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, the iDICE program aims to create jobs and will greatly benefit young Nigerians. It will help them develop valuable industries, create stable job opportunities, and support the country’s economic growth.
The French Minister for Europe and Foreign Affairs, Catherine Colonnade, believes that the iDICE program can lead to the creation of 65,000 new startups, generating 150,000 direct jobs, and around 1.3 million indirect jobs.
Tuggar mentioned that the program will train two million young people and provide them with the necessary tools to build their own business ecosystem. This includes access to funding for startups and creative businesses.
This news has seen reactions from the public and one of the reactions coming from a professor at Tekedia Institute suggests that it is impossible for the initiators to create the said amount of startups in Nigeria with their approach.