Nigeria says it is targeting to make at least 1.2 million of its citizens gainfully employed in the digital sector of the economy.
This is latest in the nation’s bid to reduce its unemployment ratio and improve the quality of life of most Nigerians.
The Federal Government is launching a $617 million investment in digital, creative enterprises programme.
According to him, Vice President Shettima has ordered members of the i-DICE Steering Committee to make sure the programme starts before the end of November 2023.
Also, Nkwocha noted that the VP gave the directive on Friday. The i-DICE team had visited to give him an update on the progress made so far. The meeting was held at the Presidential Villa, Abuja.
At the meeting, Sen. Shettima emphasised the importance of the initiative to the Federal Government’s digital jobs drive, saying the administration is keen on delivering on its promises to Nigerians.
Immense Impact
Accordingly, he urged all partners in the i-DICE programme to ensure judicious utilisation of the funds. For him, the $617.7 million scheme could be a game changer.
“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,” the Vice President was quoted as saying.
Creation Of 1.2 Million Jobs
Also, shortly after the meeting, the Minister of Finance, Mr Wale Edun, addresse State House correspondents.
He 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.
Also, the Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijjani, said the scheme was a unique opportunity.
He noted that “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”.
Loans And Grants
On 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.
“The Investment in Digital and Creative Enterprises (i-DICE) Programme is actually a $617 million program.
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“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, creative and entertainment areas, especially the areas that the youth have interest 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.”