Startups

Nigeria’s $618 Million Tech Incubator Makes Debut

The Central Business District of Lagos.
Photographer: Benson Ibeabuchi/Bloomberg

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By Anthony Osae-Brown and Emele Onu

November 6, 2025 at 1:18 PM UTC

Corrected

November 7, 2025 at 7:13 AM UTC

Nigeria made its first direct investment to support technology-enabled startups, as it seeks to back a sector that has already grown commercial capital Lagos into a key tech hub for Africa.

iDICE – as the government’s $618 million Investment in Digital and Creative Enterprises is known — is the anchor investor in a $75 million capital-raising exercise by Lagos-based Ventures Platform, said Ventures’ founding partner Kola Aina.