Nigeria Allocates N156bn for Digital Economy Projects

The Nigerian Ministry of Finance has earmarked approximately N156.2bn for major projects in the 2026 budget, primarily funded through multilateral and bilateral tied loans. The largest allocation of N89.3bn is designated for the Investment in Digital and Creative Enterprises programme, aimed at training entrepreneurs in creativity and digital technology, financed by the African Development Bank.

Additionally, N36bn is allocated for the iDICE programme, supported by the Islamic Development Bank, bringing the total for these initiatives to N125.3bn, which constitutes over 80% of the tied-loan projects in the ministry's budget. Furthermore, N30.94bn is allocated for the Family Homes Funds housing financing project for student housing.

This funding strategy aligns with President Bola Tinubu's broader fiscal approach, which emphasizes borrowing and development financing to support investment while pursuing fiscal consolidation. The 2026 budget projects total expenditure of N58.18tn with a deficit of N23.85tn, highlighting the government's focus on ensuring that tied-loan projects yield measurable economic and social returns.