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Nigeria to Roll Out $617m i-DICE Fund for Digital, Creative Industries

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i-DICE Fund

By Adedapo Adesanya

Nigeria is set to roll out the $617 million Investment in Digital and Creative Enterprises (i-DICE) Fund in collaboration with the African Development Bank (AfDB).

At a high-level meeting in Abuja on Thursday, the Minister of Art, Culture and the Creative Economy, Mrs Hannatu Musawa, with the Director General of AfDB, Mr Lamin Barrow, highlighted the huge potential of the creative economy to generate employment opportunities for millions of young Nigerians.

“With eager anticipation from the creative community, the IDICE fund emerges as a landmark transaction, providing a strategic platform for directing additional long-term financing into this dynamic sector”.

“We are delighted that the conditions precedent for the release of IDICE funds are nearing completion. We eagerly anticipate providing start-up funds to young creatives, facilitating the development and monetisation of their talents.”.

The Minister commended AfDB and other parties to the transaction for the remarkable achievement, now being emulated by other African nations.

Recall that in March last year, former Vice President, Mr Yemi Osinbajo, launched the flagship initiative and touted that it would drive vital funding for Nigeria’s digital and creative industries.

i-DICE was described as a major step toward significantly upscaling entrepreneurship and innovation in digital technology and creative industries, which include film, fashion, and music.

The new administration has now taken over, and the minister applauded the impact investment focus which includes elements such as geographical spread, first loss position of the FGN, and grants for capacity development, stressing that the minister will reflect this spirit in its nationwide awareness campaign on the initiative.

She highlighted that the i-DICE structure offers a platform through which the fundraising initiatives of her Ministry can be secured and assured that this opportunity will be thoroughly explored.

“Nigeria, having solidified its position as a global hub for music, film, and visual art, is strategically positioning itself to leverage the i-DICE funds. This move aims to consolidate its global standing and propel further expansion within the creative industry, in subsectors such as Design, Gaming, Content Creation, Animation, Culinary Arts, and Publishing”.

Mr Barrow, an integral part of the collaborative effort, provided insight into the fund structure, clarifying that i-DICE is built around a world-class governance framework, incorporating a steering committee that includes Mrs Musawa.

“AfDB has appointed the Bank of Industry as the executing agency to manage program implementation, reporting directly to the steering committee. The initiative is set to forge strategic partnerships with selected Universities and Polytechnics, major technology companies, and key players in the private sector.”

Acknowledging the eagerness of the creative community, Mr Barrow stated, “The youth are understandably impatient. Since the approval of IDICE, we have received daily inquiries about the launch. While the processes are intricate, we are on the verge of the roll-out phase.”

i-DICE comprises two major components: the intervention fund, a $147 million fund supporting enterprise and skills development, and the sectoral fund, a $433M fund divided into three categories – Creative Fund: Equity or quasi-equity to startups and SMEs in the creative sector; Tech Fund: Equity or quasi-equity to innovative early-stage and growth-stage start-ups and; Fund of Funds: Participations in closed-end Venture Capital Funds or Creative Business- focused funds.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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QNET’s Global Reach in 100+ Countries: What International Access Means for Local Distributors

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QNET

Global scale means market access and international supply chains. For individual distributors in direct selling, it can shape everything from product availability to income stability and long-term opportunity.

QNET, the multinational wellness and lifestyle direct selling company, positions its business model around that idea: connecting locally based independent distributors to an international operating platform. With activity spanning more than 100 countries, the company sits within a direct selling industry that, according to the World Federation of Direct Selling Associations (WFDSA), has stabilized after several relatively volatile post-pandemic years.

Global Reach Within a Stabilizing Industry

The WFDSA’s latest global report estimates worldwide direct selling retail sales at roughly $163.9 billion in 2024, essentially flat year over year. That flat performance, however, masks gradual improvement beneath the surface. Nearly half of reporting markets showed growth in 2024, and average market growth rates rebounded to positive territory.

The report estimates more than 104 million independent sales representatives globally in 2024, a figure that has remained largely stable year over year.

This stabilization sets a backdrop for companies like QNET. A global footprint is no longer about rapid expansion alone; it is increasingly tied to resilience: operating across regions with different economic cycles, consumer behaviors, and growth trajectories.

For distributors, this matters because opportunities extend beyond individual effort. They are often shaped by the health of the company’s broader channel and product reach.

A Platform Designed for Distributed Entrepreneurship

QNET’s model centers on local execution supported by centralized infrastructure. Products—ranging from nutritional supplements and wellness devices to home and lifestyle solutions—are sold through the company’s proprietary e-commerce platform. Independent distributors do not manage warehouses, shipment logistics, or customer service systems.

As Ramya Chandrasekaran, who heads communications at QNET, explained in a recent interview, the company views direct selling as a form of accessible “micro-entrepreneurship.” The idea is to reduce the operational burden typically associated with starting a business, allowing distributors to focus on product education, customer relationships, and market development.

Why Global Scale Changes the Distributor Equation

One practical benefit of international reach is product continuity. WFDSA data shows that wellness products account for roughly 29% of global direct selling sales, making it the largest category worldwide. In the Asia-Pacific region, the largest direct selling region by sales, wellness represents more than 40% of total category share.

QNET’s emphasis on wellness and lifestyle products places distributors in line with the strongest demand segments globally. Instead of relying on narrow local trends, distributors operate within product categories that have shown consistent global interest.

International scale also supports consistency in training, compensation structures, and digital tools. Distributors in different countries access identical back-end systems, tracking referrals, commissions, and orders through the same platform. This standardization reduces friction and uncertainty, particularly for individuals operating in markets where informal commerce is common.

Workforce Shifts

The WFDSA’s report highlights notable shifts in the global direct selling workforce. Women continue to make up more than 70% of participants worldwide, and representation among individuals aged 35 to 54 remains the largest cohort.

Independent Distributors increasingly value flexibility, long-term viability, and support systems that allow them to operate sustainably rather than aggressively scale. QNET’s emphasis on digital access, centralized operations, and gradual business building reflects those priorities.

For many participants, especially those balancing work with caregiving or other responsibilities, direct selling infrastructure offers a way to stay engaged at their own pace.

Training, Exposure, and Cross-Market Learning

QNET’s international conventions and training programs connect distributors across regions, creating informal networks for peer learning. Events that draw participants from dozens of countries expose distributors to varied approaches to sales, customer engagement, and market adaptation.

This mirrors one of WFDSA’s broader conclusions: direct selling increasingly functions as a global learning ecosystem, with companies providing tools and education that help individuals navigate uncertain economic conditions.

For distributors, exposure to cross-border experiences can recalibrate expectations, reinforcing that success often comes from steady engagement rather than rapid recruitment or short-term activity.

International Access, Interpreted Locally

Despite its global scale, QNET’s business ultimately plays out in local communities. Distributors adapt messaging around wellness, home quality, and lifestyle enhancement to cultural norms and household priorities. The international platform provides reach and structure, but relevance is built locally.

That balance, global systems supporting local relationships, defines much of modern direct selling. The WFDSA describes the industry not as a single growth story, but as a framework that can scale proportionally with economic conditions across regions.

For QNET distributors, international presence does not guarantee income or uniform outcomes. What it offers is access: to resilient product categories, standardized systems, training resources, and a global marketplace that extends beyond any single region. For local distributors navigating today’s uncertain global economic environment, that is an important foundation to maintain.

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FCCPC Unseals Ikeja Electric Headquarters

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Ikeja Electric

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) has unsealed the headquarters of Ikeja Electric Plc in the Lagos State capital after a week under lock and key.

According to a statement on Friday, the electricity distribution company committed to a binding undertaking to comply with the remedial process following consumer rights violations.

The statement signed by Mr Ondaje Ijagwu, Director of Corporate Affairs at the commission, Ikeja Electric undertook to resolve all consumer complaints referred to it by the FCCPC within agreed timelines

The headquarters was earlier sealed on December 11, 2025, because Ikeja Electric allegedly failed to comply with a directive by the Nigerian Electricity Regulatory Commission (NERC) to unbundle a Maximum Demand account into 20 individual accounts for a customer who had been without power for over two and half years.

The FCCPC noted that following the resolution, any breach of the undertaking would expose it to renewed and escalated enforcement action under the Federal Competition and Consumer Protection Act.

Reacting, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said the Commission’s intervention was necessary to enforce the provisions of the FCCPA (2018).

“Our responsibility is to ensure that consumers are treated fairly and that service providers comply with lawful decisions and directives. Enforcement is not an end in itself. Where compliance is achieved and credible commitments are made, the Commission will respond appropriately,” he said.

Clarifying further, Mr Bello said the outcome reflects the commission’s balanced approach to regulation.

“We intervene decisively where consumer harm persists, and we de-escalate where enforceable compliance is secured. What remains constant is our duty to protect consumers and uphold regulatory accountability,” he said.

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All On’s Clean Energy Access Transforms Over One Million Lives

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All On

By Modupe Gbadeyanka

The decision by a leading impact investment company focused on expanding clean energy access, All On, to support over 50 clean energy businesses and provide grants and technical assistance to more than 80 enterprises in Nigeria is already yielding positive results.

This is because the organisation’s Impact Evaluation Report indicated that more than one million lives have been transformed through clean energy access.

The report covered from 2018 t0 2024 and it was discovered that the interventions of All On enabled the connection of over 230,000 households, businesses, and public facilities to reliable energy solutions, while strengthening the operational capacity of energy providers and improving affordability and service reliability for end users.

Prior to the commencement of All On’s operations in 2016, nearly half of Nigeria’s population lacked access to electricity, and the sector faced an estimated 92 per cent annual funding gap.

In response, the group adopted a bold, risk-tolerant strategy—deploying catalytic capital, innovative financing instruments, and ecosystem-building initiatives to unlock private sector participation and drive progress toward universal energy access.

Central to these achievements is All On’s holistic support model, which combines rigorous, tailored due diligence, deep sector expertise, and active ecosystem engagement.

This approach has positioned All On as a trusted partner capable of delivering both commercial viability and systemic impact.

Flagship initiatives such as the Demand Aggregation for Renewable Technology (DART) programme have further amplified results by reducing procurement costs for supported businesses by up to 50 per cent, enabling developers to scale faster and pass cost savings on to consumers due to access to reliable, affordable, and sustainable energy solutions.

In the report, it was revealed that half of supported households reported improved air quality, enhanced safety, and reduced noise pollution, contributing to better health outcomes and improved quality of life, alongside measurable environmental benefits.

“This report confirms that our approach is delivering real results. By combining patient capital, technical assistance, and ecosystem support, we are enabling scalable and sustainable energy solutions for Nigeria’s unserved and underserved communities,” the chief executive of All On, Ms Caroline Eboumbou.

The company plans plans to scale proven models, strengthen local capacity, and expand its reach—particularly in underserved regions such as the Niger Delta.

“While the progress to date is encouraging, our work is far from done. As we look toward 2030, we remain committed to deepening our impact and creating even more meaningful connections across Nigeria,” Ms Eboumbou added.

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