Economy General

NEC approves $618m for i-DICE programme in states

The National Economic Council (NEC)

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From Our Correspondent

The National Economic Council (NEC) has approved $617.7 million for the implementation of investment in Digital and Creative Enterprises (i-DICE) programme across the federation.

TheNewsZenith reports that the approval was part of the resolutions reached at the 140th meeting of the Council held virtually on Thursday, in Abuja.

Vice-President Kashim Shettima chaired the meeting.

Shettima directed the governors to nominate persons to represent each geo-political zone at the zonal level.

He also called for the selection of focal persons to lead the implementation of the programme in their respective states.

Shettrima restated the resolve of President Bola Tinubu’s “Renewed Hope” to leave a legacy of prosperity and opportunity for all Nigerians.

“As the scheme becomes operational in the coming weeks, implementation across the country will be diligent, committed and forthright,” the VP assured.

He also said the administration would not rest until it delivers all the opportunities promised to the citizens.

“It is the reason why the government is prioritising skills acquisition and job creation.”

According to him, part of President Tinubu’s eight-point agenda is prioritising whatever offers Nigerians a means to earn a living with dignity.

“But two things are clear: One, we won’t ever regret paving the way for the acquisition of skills that meet the needs of the global markets.

“Two, our actions today will shape the economic landscape of tomorrow and, so, it is incumbent upon us to ensure that we leave a legacy of prosperity and opportunity for all Nigerians.

“When we empower entrepreneurs and small business owners, we unlock the potential for innovation, job creation and economic growth.

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“By providing access to financing, training and mentorship programs, we unleash the entrepreneurial spirit that lies within every Nigerian, catalysing a wave of economic prosperity that benefits us all.

“We cannot achieve this without inclusivity and equitable access to opportunities; this is the ladder we must offer to every disadvantaged citizen.”

Shettima noted that the government had moved beyond mere deliberations to the implementation phase.

“The government is actively pursuing its short-term goals en-route the achievement of our medium-term and long-term strategies.

“My confidence in our ability to fix our nation stems from the unity of purpose this Council has demonstrated.

“We have rejected binary thinking, resisted divisions and relegated self-interest in favour of a shared vision for progress.

“The government’s efforts will be useless to citizens unless job-creation and skills development, in the country, are prioritised.

He, therefore, implored the governors and other Council members to execute initiatives consistently to alleviate the hardships of citizens.

“This is a delicate period to occupy offices like ours.

“We cannot remind ourselves enough that we have come at a time that tests the depth of our leadership and demands our most rational wisdom to make a difference.

“Your Excellencies, distinguished ladies and gentlemen, we must remain consistent in implementing the initiatives that alleviate the suffering of our citizens and be accountable in doing so.

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“We must also ensure that the interventions we deploy are non-discriminatory. And it must favour all stakeholders, with no part of our communities or nation left lagging,” Shettima said.

Executive Director of Small and Medium Enterprises in the Bank of Industry, Shekarau Omar, presented the i-DICE programme to NEC.

Omar said the i-DICE programme aimed to deliver on the Tinubu administration’s promise to create millions of jobs in the technology space.

On the impact of the programme, he said it would train 1,269,757 youths in ICT skills.

“At least, 25,000 youths will benefit from the training in each state and the FCT.

“While it will create at least 100,000 jobs, i-DICE interventions will also create about 5,581,231 indirect jobs nationwide,” he said.

According to him, the programme will complement the government’s agenda to create sustainable jobs.

It would also help to diversify the economy and equip digital and creative incubation hubs/innovation centres across the country.

The ED said the African Development Bank (AfDB), Islamic Development Bank (IsDB) and the French Development Agency (AFD) among other organisations would fund the programme.

To fund the programme, the AfDB will contribute $170 million, IsDB -$70 million and AFD with $116 million.

The remaining funding will sourced through private investors – $205 million, the Bank of Industry (BoI) and other sources – $45.5 million and Fund Manager – $8.7 million.

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