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Nigeria Unveils $618m Investment to Create Digital Skills, Jobs

Nigeria has unveiled a $618 million investment programme, to promote innovation and entrepreneurship in the digital, technology and creative industries targeted at job creation.

Nigeria vice president, Prof. Yemi Osinbajo, who presided over the launch of the Investment in Digital and Creative Enterprises (I-DICE) programme, revealed the project culminated from his conversation with Dr. Akinwunmi Adesina, president of African Development Bank (AfDB), in South Africa five years ago.
Osinbajo said: “What you may not have been told is the incredible effort that Dr. Akinwunmi Adesina, President of AfDB put into this to make it happen. The thinking came from a discussion he and I had in 2018 on how to leverage technology and industry for jobs for young people. He told me at the time that the AfDB was already thinking along the lines of committing some funding to some iteration of the idea.”
Fast-forward to Tuesday, the i-DICE programme was unveiled, aimed at upscaling entrepreneurship and innovation in digital technologies and creative industries.
“The fruit of that discussion and the hard work of many is what we witness here today. The fund as we were told is $618 million, out of which the AfDB provides $170 million, the Agence Française de Développement provides $100 million and the Islamic Development Bank will provide $70 million in co-financing,” said Osinbajo.
“The Bank of Industry, representing the federal government, will provide $45 million as a counterpart contribution, to be availed through loans for qualifying start-ups. And as we heard from the President of AfDB, we expect, by leveraging this fund, another maybe $271 million from the private sector and institutional investors.”
The I-DICE programme is anticipated to help to fill critical gaps in Nigeria by supporting enterprise and skills development, access to demand-driven digital and creative skills, entrepreneurship skills, ICT enabled infrastructure, as well as access to finance.
Turning point
Adesina said the I-DICE programme is set to be ‘a real game changer’ in Nigeria.
“It will help to create 6.1 million direct and indirect jobs and equip more than 175 000 young people with the technology and creative skills needed to drive innovation and foster entrepreneurship.
“To start with, I-DICE will support 451 digital technology start-ups, 226 creative enterprises and 75 enterprise support organisations. The benefits of the programme to Nigeria’s economy are projected to be worth $6.4 billion,” he said.
“Yes, we gather to launch the initiative, but what we are really launching is more than this. We are launching hope for the youth. We are launching platforms that will enhance the ability and capacity of Nigeria’s youth to thrive. We are launching the creation of millions of jobs.
“We are retooling Nigeria to be more competitive in an increasingly digital world. We are creating hope for a new Nigeria, driven by the power of the youth.”
Adesina said the size of Africa’s digital economy will rise from $115 billion today to $712 billion by 2050, hence the need to prepare young people.
“Most of this growth is already being driven by four countries, Nigeria, South Africa, Kenya, and Egypt,” he said.
“We are already witnessing in Nigeria the power of digital technologies, tools and platforms. Nigeria currently has five out of the 11 digital companies that have reached the status of unicorn, with a market valuation exceeding $1 billion. Names that come to mind include Jumia, Interswitch, Opay, Flutterwave and Andela, mainly in the fintech space.”
Further, Adesina said the AfDB is ‘making great strides’ in empowering youth on the continent.
From 2016 to 2021, he said, the ADB supported the creation of over 12 million jobs, 3.1 million of which were direct and nine million indirect.
He explained: “This has been made possible through our high employment impact operations and special initiatives in key sectors such as agriculture, infrastructure, energy, and financial sectors, as well as in the digital and creative industries.
“Additionally, the Bank’s Coding for Employment programme has provided onsite centres and digital training platforms that have equipped 23 200 youth from 45 countries with the skills needed to succeed in the digital job market.
“We have invested $2 billion in 37 tech projects to improve national and regional broadband infrastructure, foster private investment, and support digital enterprises.”
Looking ahead, Adesina said: “The African Development Bank is currently designing and will soon roll out youth entrepreneurship investment banks, new financial institutions that will build robust financial ecosystems around the businesses of young people across Africa.”
News
NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.
Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.
“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.
Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.
“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.
He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.
“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.
During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.
Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.
“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.
The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.
In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.
Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.
The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.
News
NRS Takes Over Mineral Royalties Collection Under New Tax Laws

Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS
The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.
Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.
NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.
Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.
The move aims to streamline revenue collection while fostering mining growth.
News
Microsoft Revamps Copilot in Workplace AI Push

Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.
The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.
Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.
Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.
“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.
Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.
A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.
The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.
Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.
The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.
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