News

Osinbajo Unveils $600m Funding For tech, Creative Sectors

Published

3 years ago

March 14, 2023

Editor

Vice President Yemi Osinbajo, SAN, on Tuesday unveiled a $600m programme for young Nigerians in the technology and creative sectors.

The programme targets young Nigerians from ages 15-35 who are entrepreneurs and involved in the early stages of creative, innovative and technology-enabled ventures.

According to Osinbajo, Nigeria’s technology ecosystem accounts for almost 30 per cent of Africa’s funded ventures with no fewer than 180 startups.

He also urged African governments and the organised private sector to do more to support the growth of innovation in the continent.

According to a statement signed by his Senior Special Assistant on Media and Publicity, Laolu Akande, the Vice President spoke at the presidential unveiling of the Investment in Digital and Creative Enterprises Programme, held at the State House Banquet Hall, Abuja.

The statement is titled ‘$600m for young Nigerians in technology, creative sectors ready as Osinbajo unveils scheme.’

Osinbajo said, “It is now imperative to commence a coordinated approach towards innovation on the continent, bringing together all stakeholders to coordinate efforts at scaling up investments and building programmes that provide the right enabling environment and produce talent pipelines that support the growth of innovation on the continent.”

While the I-DICE initiative would remove constraints such as access to capital, and capacity limitation of Start-ups, the VP said more needed to be done to scale up such programmes.

“The government must provide more support for startups and small businesses, and investors must provide more funding.

“This is why the Investment in Digital and Creative Enterprises Programme is important,” he said.

He revealed that “the total fund is $618m, out of which the AFDB provides $170million, the Agence Francaise de development $116m and the Islamic Development Bank will provide $70 million in co-financing.”

Another $271m is expected from private sector and institutional investors, he noted.

The Federal Government of Nigeria will also make a counterpart contribution of $45m through the Bank of Industry loans for qualifying start-ups.

Osinbajo thanked the development partners for their collaboration and the AfDB President, Dr. Akinwunmi Adesina, for his role in implementing the idea.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

4 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

4 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

6 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.