Nigeria Opens $110M Debt Window for Tech and Creative Startups Under iDICE
Nigeria's federal government has opened a $110 million debt-financing window for technology and creative-sector startups under the iDICE programme, marking a major direct capital deployment into the country's startup ecosystem. The facility provides debt rather than equity, offering a distinct funding instrument in a market where equity has historically dominated government-linked support.
iDICE debt window: 10% interest is the number that changes everything
Nigerian startups have been told to go to commercial banks for years. Commercial banks charge 30%-plus. So they don't go.
The iDICE debt window caps rates at 10% per annum, with up to five years to repay and a six-month grace period before repayments start. That's not marginally better — it's a completely different conversation for a founder trying to buy equipment or hire without giving away ownership.
Debt at these terms means founders who have traction but don't want to sell equity now have a real third option. That's the gap this is trying to close.