The Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme’s implementing agency, the Bank of Industry (BOI), has opened two new debt-financing windows totalling $110 million to increase startups in Nigeria’s technology and creative industries’ access to affordable funding.
Application Deadline:
Applications are currently open. Deadlines will be announced via the official iDICE portal.
Tell Me About the Opportunity:
The Bank of Industry (BOI), under the Federal Government’s iDICE Programme, has launched two new debt-financing windows worth $110 million to support startups in Nigeria’s technology and creative industries. These funds aim to provide affordable, long-term financing to help businesses scale.
Which Sectors are Eligible?
Technology startups, creative industry businesses (media, design, film, music, fashion, etc.), and MSMEs with proven market traction.
Type:
Debt financing — structured loans under conventional and Sharia-compliant models.
Who can Apply?
Eligible Nigerian startups and MSMEs across all 36 states and the Federal Capital Territory.
How are Applicants Selected?
Applicants are evaluated based on business viability, market traction, and alignment with the financing model (conventional or Murabaha).
Which Countries Are Eligible?
Nigeria only.
Where will the Opportunity be Taken?
Nationwide across Nigeria, through the BOI and iDICE Programme.
How Many Opportunities?
Two debt funds available:
- $45 million BOI-iDICE Debt Fund
- $65 million IsDB-iDICE Debt Fund
What is the Benefit of the Opportunity?
- Loans from ₦10 million to ₦1 billion
- Interest rates capped at 10% per annum
- Repayment periods up to 5 years
- Moratorium of up to 6 months
- Sharia-compliant Murabaha financing option for asset acquisition
How Long Will the Support Last?
Loan terms extend up to 5 years, depending on the facility chosen.
How to Apply:
Applications must be submitted through the official iDICE portal. Applicants should review requirements for each financing window and select the facility that best suits their business model.