Connect with us

News

FG TO LAUNCH $617M INVESTMENT IN DIGITAL, CREATIVE ENTERPRISES PROGRAMME

Published

on

FG TO LAUNCH $617M INVESTMENT IN DIGITAL, CREATIVE ENTERPRISES PROGRAMME

…VP Shettima directs technical committee to ensure inclusivity

By: Our Reporter

Determined to deliver on the promise to create millions of jobs in the technology space, President Bola Ahmed Tinubu’s administration has proposed November 2023 to launch the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme.

To ensure this unfolds into a reality, Vice President Kashim Shettima has given marching orders to members of the i-DICE Steering Committee, tasking them to make sure the programme starts before the end of November this year.

The VP gave the directive on Friday when the i-DICE team gave him an update on the progress made so far during a meeting at the Presidential Villa, Abuja.

At the meeting, Sen. Shettima emphasised the importance of the initiative to Federal Government’s digital jobs drive, saying the administration is keen on delivering on its promises to Nigerians.

Accordingly, he urged all partners in the i-DICE programme to ensure judicious utilisation of the funds, noting that the $617.7 million scheme could be a game changer.

The Vice President stated: “The peculiarity of the challenges we face in the country demands that we have to create jobs for our teeming youths to address the crises associated with youth unemployment. I want to appeal to all of us here to unite and see that this programme takes off latest by the end of November this year.

“I am interested in getting a weekly update on what is being done to kick-start this programme. We also need to spread out to cover the whole country so that there is inclusivity. If we judiciously utilise these funds, the target impact and anticipated benefits will be immense.
“I want to assure the technical committee, all those working on this programme and our international partners, that you will get all the support that you will need. We mean business. My boss, President Bola Tinubu, is passionate about the transformation of this country. So, you have nothing to worry about the government’s support”.

Speaking with State House correspondents shortly after the meeting, Minister of Finance, Mr Wale Edun described the project as “very key to the promise of His Excellency, President Bola Ahmed Tinubu, particularly to the youth, for the creation of 1.2 million digital jobs.

“This $617 million project will go a long way to achieving the President’s priorities on job creation and economic growth, particularly inclusivity. One of the major elements is going to have 50% participation by women,” he added.

On his part, Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijjani, said the scheme is a unique opportunity.

He noted: “The Nigerian technology and creative ecosystem has been doing well and is the best on the continent. We actually want to be a leader globally. And there’s no other way to do that than investing in the technology startups that are building these solutions.

“So, the government is putting its skin in the game to say ‘we want to support; we want to see more local confidence building’. And there’s no other way to show that than by putting money in some of the startups.”

For his part, the Managing Director of the Bank of Industry, Mr Kayode Pitan, hinted that the Vice President gave them marching orders to start by next month.

He said, “The Investment in Digital and Creative Enterprises (i-DICE) Programme programme is actually a $617 million programme. The funding has been concluded with African Development Bank (AfDB), the French Development Agency (AFD) and the Islamic Development Bank (IsDB).

“BOI (Bank Of Industry) also will put in some part of that funding. It will cover the digital area, the creative area and entertainment area, especially the areas that the youth are interested in. So, this is actually for the youths – people below 35. We have some grants, we have some loans. There’s some equity, and for the startups, government is hoping that some new unicorns are going to emerge from this particular programme”.

Also present at the meeting were the Ministers of Science and Technology Innovation, Mr Uche Nnaji; Industry Trade and Investment, Dr. Doris Uzoka-Anite; Arts, Culture and Creative Economy, Hajiya Hannatu Musawa, among others.

FG TO LAUNCH $617M INVESTMENT IN DIGITAL, CREATIVE ENTERPRISES PROGRAMME

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration

Published

on

ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration

By: Michael Mike

Students in Monrovia, Liberia, have been honoured for their contributions to a regional essay competition organised to commemorate the 50th anniversary of the Economic Community of West African States (ECOWAS).

The awards ceremony, organised by the Office of the ECOWAS Resident Representative in Liberia, celebrated outstanding undergraduate essays examining the role of young people in driving development and strengthening regional cooperation across West Africa.

Launched as part of the ECOWAS@50 anniversary activities, the competition invited university and college students to reflect on the theme, “Youth Entrepreneurship as a Catalyst for National Development and Regional Integration.” Organisers said the initiative was designed to stimulate intellectual engagement among young people and encourage them to think critically about their role in shaping the future of the region.

In total, 40 essays were submitted by students from tertiary institutions across Liberia, offering diverse perspectives on how youth-led enterprise could contribute to economic growth, job creation and deeper integration among West African nations.

At the ceremony, Samuel R. Watkins of the University of Liberia emerged as the overall winner, receiving a $1,000 prize for his submission. The second-place award went to Daniel Isaac-Sie Jr. of African Methodist Episcopal University, who received $700. Organisers announced that the two winning essays will also be published in national newspapers with online platforms to broaden public engagement with the ideas presented.

The event attracted a distinguished audience that included ambassadors of ECOWAS member states accredited to Liberia, university presidents, and representatives from the Ministry of Education of Liberia, the Ministry of Youth and Sports of Liberia, and the National Commission on Higher Education of Liberia.

Speaking at the ceremony, Josephine Nkrumah, ECOWAS Resident Representative in Liberia, commended the students for the depth of thought reflected in their essays and encouraged them to continue using writing as a platform for civic engagement and policy influence.

She emphasised that empowering young people to participate actively in national and regional development remains a key priority for ECOWAS, noting that youth voices are essential in shaping policies that drive economic transformation and social progress.

Nkrumah also urged participants who did not win to remain committed to intellectual pursuits, describing the competition as a learning experience that should inspire greater academic and creative efforts in the future.

The competition forms part of broader activities marking 50 years since the establishment of ECOWAS in 1975, as the regional bloc continues to promote economic cooperation, integration and shared prosperity among its member states. Organisers say initiatives that engage young people are critical to sustaining the vision of a more integrated and economically vibrant West Africa.

ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration

Continue Reading

News

Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

Published

on

Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

By: Michael Mike

The Embassy of the Russian Federation in Nigeria has hosted a special classical music concert in Abuja, describing the event as a significant step toward strengthening cultural dialogue and people-to-people relations between Nigeria and Russia.

The event, which drew diplomats, cultural enthusiasts, academics and members of the public, featured performances by three talented young Russian musicians from the Tchaikovsky Moscow State Conservatory, one of Russia’s most prestigious music institutions.

Speaking at the event, the Russian Ambassador to Nigeria, Andrey Podelyshev noted that the concert was organized with the support of the Russkiy Mir Foundation and the Department for Multilateral Humanitarian Cooperation and Cultural Relations of the Ministry of Foreign Affairs of the Russian Federation.

According to him, the concert represents the first cultural event of its kind organized by the Russian Embassy in Nigeria in several years and marks an important effort to revive cultural engagement between the two nations.

“This evening is not simply a concert,” the envoy said. “It is an important step toward strengthening cultural dialogue between the Federal Republic of Nigeria and the Russian Federation. We hope it will mark the beginning of a new tradition that brings our peoples closer through the universal language of music.”

He expressed appreciation to several Nigerian institutions for supporting the initiative, including the National Universities Commission for providing the venue, as well as the Federal Ministry of Art, Culture, Tourism and Creative Economy and the Nigeria Immigration Service for their cooperation.

Special recognition was also given to Abba Music School for its role in coordinating the event and facilitating the participation of the visiting musicians.

The envoy said Russia also hopes to deepen cultural exchange by creating opportunities for Nigerian artists and creative groups to perform in Russia in the future, allowing Russian audiences to experience Nigeria’s rich cultural heritage.

“We look forward to the day when Nigerian creative groups will visit Russia, enabling our audiences to appreciate the depth, diversity and richness of Nigeria’s culture,” he said.

Guests at the concert were treated to a carefully curated repertoire of classical masterpieces drawn from Russian and global musical traditions, showcasing the technical brilliance and artistry of the visiting performers.

The evening also provided an opportunity for cultural interaction among diplomats, academics, students and music lovers, reinforcing the role of arts and culture in fostering international understanding.

The Russian envoy concluded his remarks by congratulating Muslims on the occasion of Eid al-Fitr and thanking guests for attending the event.

Observers noted that the concert reflects a renewed effort by Russia to use cultural diplomacy to deepen engagement with Nigeria, particularly in the areas of education, arts and cultural exchange.

Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

Continue Reading

News

Fire destroys 10 shops in Gusau shopping complex

Published

on

Fire destroys 10 shops in Gusau shopping complex

By: Zagazola Makama

A fire outbreak has destroyed ten shops at a shopping complex in Garejin Mai Lena area of Gusau Local Government Area, Zamfara State.

Sources said the incident occurred at about 2:00 a.m. on Thursday, causing extensive property losses valued at millions of naira.

The blaze was brought under control through a joint effort by security operatives and local residents who assisted in putting out the fire.

Authorities confirmed that no lives were lost and no injuries were reported during the incident.

The cause of the fire is currently under investigation as efforts continue to assess the full extent of the damage.

Fire destroys 10 shops in Gusau shopping complex

Continue Reading

Trending

Verified by MonsterInsights