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
Tinubu Confirms Killing of Abu-Bilal Al-Manuki by Nigerian, US Forces
By Modupe Gbadeyanka
President Bola Tinubu on Saturday confirmed the killing of a senior ISIS leader, Mr Abu-Bilal Al-Manuki, in an overnight operation carried out by the United States and Nigeria.
President Donald Trump had earlier announced the elimination of the notorious terrorist via a post on his Truth Social.
Later, in a statement today, Mr Tinubu praised the action, describing it as “a significant example of effective collaboration in the fight against terrorism.”
“Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States, conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State,” he said in the statement.
According to him, early assessments confirm the elimination of the wanted IS senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, along with several of his lieutenants, during a strike on his compound in the Lake Chad Basin.
He commended the partnership between Nigeria and America in waging war against terrorists, thanking his US counterpart “for his leadership and unwavering support in this effort.”
“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation,” the Nigerian leader added.
General
Nigeria Steps up AI Surveillance, Anti-Drone Systems for National Security
By Adedapo Adesanya
Nigeria is set to strengthen its defence architecture by deploying artificial intelligence-powered surveillance systems and advanced anti-drone technology as part of efforts to modernise the country’s military capabilities, according to the Minister of Defence, Mr Christopher Musa.
He disclosed this during a high-level visit to Monaco, where he led a Nigerian delegation to conclude discussions on the multi-domain Hybrid Intelligence Shield (HIS) project.
According to Mr Musa, the initiative is designed to enhance border security, protect urban centres and improve the country’s response to emerging security threats.
The project is expected to introduce AI-driven surveillance systems capable of identifying threats rapidly through smart algorithms, while anti-drone technology will be deployed to intercept and neutralise unmanned aerial threats.
The government also plans to establish national and regional command-and-control centres to improve real-time coordination and response to security incidents across the country.
Mr Musa said the initiative would place strong emphasis on technology transfer and local capacity development through the establishment of a military Centre of Excellence in Nigeria.
He added that the federal government would leverage partnerships with international firms, including Marss UK Ltd, while simultaneously building indigenous capabilities to address insurgency, illegal mining, piracy and other security threats.
Nigeria has continued to battle multiple security challenges in recent years, including insurgency in the North-East, banditry and kidnappings in the North-West, farmer-herder clashes in the North-Central region, crude oil theft in the Niger Delta and piracy in the Gulf of Guinea.
Nigeria is stepping up its defence as the border region of Nigeria, Benin and Niger on the southern edge of the Sahel region is becoming a new stronghold for jihadists, as militants turn forests and pastoral networks in West Africa into bases for recruitment and international attacks.
Attacks in Nigeria have also risen, with data from the website of the Armed Conflict Location & Event Data (ACLED), a conflict-monitoring group, affirming that the number of suicide bombings in Nigeria by March already matched the annual average over the past six years.
The Nigerian military has also been dealt a blow to its military bases and senior figures targeted. In April, Brigadier-General Oseni Omoh Braimah was killed when Islamist fighters attacked a base in Borno State.
To also meet the defence goal, Nigeria is stepping up efforts to build domestic arms-manufacturing capacity.
General
Nigeria, Morocco to Seal Atlantic Gas Pipeline Deal by Q4 2026
By Adedapo Adesanya
Nigeria and Morocco are set to sign a major intergovernmental agreement later this year to push forward the long-delayed Nigeria-Morocco Gas Pipeline project, a multi-billion-dollar energy corridor expected to reshape gas trade across West Africa and Europe.
The agreement, expected to be signed in the fourth quarter of 2026 by President Bola Tinubu and King Mohammed VI of Morocco, follows the completion of preliminary technical studies for the ambitious project, according to officials from both countries.
The pipeline, also known as the African Atlantic Gas Pipeline, is projected to stretch about 6,900 kilometres along offshore and onshore routes across West Africa, making it one of the largest gas infrastructure projects on the continent.
With an estimated cost of $25 billion, the pipeline is designed to transport up to 30 billion cubic metres of gas annually once completed.
Discussions on the project gained fresh momentum during a telephone conversation between Nigeria’s Minister of Foreign Affairs, Mr Bianca Odumegwu-Ojukwu, and her Moroccan counterpart, Mr Nasser Bourita.
The project would not only strengthen energy cooperation between the two countries but also improve regional economic integration and expand Africa’s access to European energy markets.
According to Morocco’s hydrocarbons and mining agency, ONHYM, part of the gas supply will support Morocco’s domestic energy demand, while large export volumes will be directed to Europe.
The project, first proposed about a decade ago, is seen as a strategic alternative gas supply route amid rising global energy security concerns and Europe’s search for more diversified energy sources.
Beyond the pipeline, Nigeria and Morocco are also exploring broader economic partnerships, particularly in fertiliser production and distribution to support food security across Africa.
Both countries also agreed on the need to revive the Nigeria-Morocco Business Council to strengthen trade and investment relations under the African Continental Free Trade Area framework.
Analysts noted that the project could significantly boost gas monetisation opportunities for Nigeria, expand regional infrastructure development, and deepen economic ties between West African nations and Europe if successfully executed.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn

Pingback: Nigeria Makes First VC Fund Investment Through iDICE Programme | Business Post Nigeria