General
Nigeria to Roll Out $617m i-DICE Fund for Digital, Creative Industries
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.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
General
Bill Seeking Creation of Unified Emergency Number Passes Second Reading
By Adedapo Adesanya
Nigeria’s crisis-response bill seeking to establish a single, toll-free, three-digit emergency number for nationwide use passed for second reading in the Senate this week.
Sponsored by Mr Abdulaziz Musa Yar’adua, the proposed legislation aims to replace the country’s chaotic patchwork of emergency lines with a unified code—112—that citizens can dial for police, fire, medical, rescue and other life-threatening situations.
Lawmakers said the reform is urgently needed to address delays, miscommunication and avoidable deaths linked to Nigeria’s fragmented response system amid rising insecurity.
Leading debate, Mr Yar’adua said Nigeria has outgrown the “operational disorder” caused by multiple emergency numbers in Lagos, Abuja, Ogun and other states for ambulance services, police intervention, fire incidents, domestic violence, child abuse and other crises.
He said, “This bill seeks to provide for a nationwide toll-free emergency number that will aid the implementation of a national system of reporting emergencies.
“The presence of multiple emergency numbers in Nigeria has been identified as an impediment to getting accelerated emergency response.”
Mr Yar’adua noted that the reform would bring Nigeria in line with global best practices, citing the United States, United Kingdom and India, countries where a single emergency line has improved coordination, enhanced location tracking and strengthened first responders’ efficiency.
With an estimated 90 per cent of Nigerians owning mobile phones, he said the unified number would significantly widen public access to emergency services.
Under the bill, all calls and text messages would be routed to the nearest public safety answering point or control room.
He urged the Senate to fast-track the bill’s passage, stressing the need for close collaboration with the Nigerian Communications Commission (NCC), relevant agencies and telecom operators to ensure nationwide coverage.
Senator Ali Ndume described the reform as “timely and very, very important,” warning that the absence of a reliable reporting channel has worsened Nigeria’s security vulnerabilities.
“One of the challenges we are having during this heightened insecurity is lack of proper or effective communication with the affected agencies,” Ndume said.
“If we do this, we are enhancing and contributing to solving the security challenges and other related criminalities we are facing,” he added.
Also speaking in support, Senator Mohammed Tahir Monguno said a centralised emergency number would remove barriers to citizen reporting and strengthen public involvement in security management.
He said, “Our security community is always calling on the general public to report what they see.
“There is a need for government to create an avenue where the public can report what they see without any hindrance. The bill would give strength and muscular expression to national calls for vigilance.”
The bill was referred to the Senate Committee on Communications for further legislative work and is expected to be returned for final consideration within four weeks.
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