Federal Government to Introduce New Investment Funds for Startups in 2026

In 2026, the Federal Government of Nigeria will launch two new investment funds aimed at fostering growth within the technology and creative sectors. These funds are a part of President Tinubu's Renewed Hope Agenda, which seeks to invigorate the national economy by supporting early-stage startups and stimulating job creation across the country.

Focus on Technology and Creative Industries

The upcoming investment funds will specifically target tech and creative startups. Ventures Platform has been appointed as the Technology Fund Manager, tasked with overseeing the allocation of these resources. This initiative is in line with a broader strategy to develop skills and enterprise among Nigerian youth, particularly those aged between 15 and 35. By focusing on these sectors, the government hopes to tackle youth unemployment and drive economic progress.

Details of the Investment Funds

One of the two funds, a $75 million startup fund, is set to launch alongside the expansion of the $617 million iDICE programme in 2026. The iDICE programme, supported by international financial institutions such as the African Development Bank (AfDB), Islamic Development Bank (IsDB), and Agence Française de Développement (AFD), aims to enhance skills development and enterprise growth among young Nigerians. This programme expansion is expected to provide significant financial backing to early-stage ventures, helping them scale their operations and contribute to job creation.

A Multi-Faceted Approach to Supporting Startups

The Federal Government's strategy includes the establishment of a Fund of Funds model, which will indirectly support startups by providing capital to local investment funds. This approach seeks to amplify the reach and impact of the investment, ensuring that a diverse range of startups within the technology and creative industries can access the necessary resources to thrive. The Creative Sector Fund, specifically geared towards supporting creative startups, underscores the government's commitment to nurturing a vibrant and innovative business environment.

Collaborative Efforts for Economic Growth

The collaboration between the Nigerian government and international partners reflects a concerted effort to address the pressing issue of youth unemployment through enterprise development. By channeling substantial investments into these critical sectors, the government aims to create a sustainable ecosystem that empowers young entrepreneurs and drives economic growth. The launch of these funds in 2026 marks a significant step towards achieving these objectives, with the potential to transform the startup landscape in Nigeria.

"The introduction of these funds is a testament to our commitment to the youth of Nigeria. We are investing in their future and the future of our country by providing the necessary resources to nurture innovation and entrepreneurship," a government spokesperson commented on the initiative.