Nigeria will receive $618 million from the African Development Bank (AfDB) as part of the Investment in Digital and Creative Enterprise (i-DICE) program.

In an interview with the News Agency of Nigeria (NAN) in Marrakesh, Morocco, on Sunday, Lamin Barrow, the AfDB’s Country Director-General for Nigeria, disclosed this and said that the Nigerian government is presently in the process of appointing a fund manager for the project.

On March 14, Nigeria opened a 618 million dollar technology fund under the iDICE program for young investors.

The fund, introduced by ex-Vice President Yemi Osinbajo, aims to assist investors grappling with fundraising challenges in Nigeria’s technology and creative sectors.

Barrow said the implementation of the project was staggered because of Nigeria’s government transition.

We were caught up by the transition of government and you have to allow the new government to settle in.

“The steering committee, chaired by the vice-president with membership from the Ministries of Finance, Trade and Investments, Communication, Science and Technology, Information and Culture, met and received a briefing.

“We are now at the point of disbursement and the team has assembled the necessary procurement work.

“This has to do with the recruitment of the transaction adviser and the Expression of Interest for firms that want to manage the DICE funds,’’ he said.