BOI iDICE Fund 2026: How to Apply for Up to ₦100 Million Business Loan in Nigeria
For many Nigerian startups and creative businesses, getting funding is often harder than building the business itself. Banks usually ask for collateral, while private investors may only back businesses that have already grown significantly.
To give more businesses access to finance, the Federal Government introduced the Investment in Digital and Creative Enterprises (iDICE) Programme through the Bank of Industry (BOI).
The programme provides loans to businesses in the technology, digital and creative sectors. Depending on the category and assessment, successful applicants can receive between ₦10 million and ₦100 million. The programme also offers business support to help eligible enterprises expand.
If you’ve been searching for information about the BOI iDICE Fund, this guide explains who can apply, how much is available, the loan terms and the requirements you should know before submitting an application.
What Is the BOI iDICE Fund?
The Investment in Digital and Creative Enterprises (iDICE) Fund is a financing programme established to support businesses that operate in Nigeria’s technology and creative industries.
The programme is managed by the Bank of Industry (BOI) with funding support from:
- African Development Bank (AfDB)
- Islamic Development Bank (IsDB)
- Agence Française de Développement (AFD)
The goal is to make funding available to businesses that need capital to expand, create jobs and develop products or services within the digital and creative economy.
Alongside financing, some beneficiaries may also receive business advisory and enterprise support during the programme.
How Much Can You Get?
The amount approved depends on the size of the business, the amount requested and the outcome of BOI’s assessment.
Eligible businesses may access financing ranging from:
₦10 million to ₦100 million
Not every applicant will receive the maximum amount. BOI reviews each application individually before deciding the amount to approve.
Who Can Apply?
The iDICE Fund is open to businesses already operating in the technology, digital or creative sectors.
This includes businesses involved in areas such as:
- Software development
- Financial technology (FinTech)
- Artificial Intelligence (AI)
- Educational technology (EdTech)
- Health technology (HealthTech)
- Digital marketing
- E-commerce
- Film production
- Music production
- Animation
- Gaming
- Fashion
- Photography
- Content creation
- Digital media
- Other technology-driven businesses
The programme is intended for businesses that are already operating and looking for funding to expand.
Available Loan Categories
The iDICE programme currently offers financing through two debt funds.
BOI-iDICE Debt Fund
This category is managed directly by the Bank of Industry and provides financing for eligible businesses that meet the programme requirements.
IsDB-iDICE Debt Fund
This fund is supported by the Islamic Development Bank and provides financing for qualified businesses under the iDICE programme.
Applicants are assessed before they are assigned to the appropriate funding category.
Loan Terms
Applicants should understand the basic loan conditions before applying.
The programme currently offers:
- Loan amount of ₦10 million to ₦100 million
- Interest rate of 10% per annum
- Repayment period of up to five years
- Moratorium of up to six months, depending on the approved facility
The final terms may differ based on the type of loan approved.
Eligibility Requirements
Although applications are reviewed individually, businesses are generally expected to meet certain conditions.
Applicants should:
- Operate in the technology, digital or creative sector.
- Have an existing business.
- Provide accurate business and personal information.
- Meet the Bank of Industry’s assessment requirements.
- Have a satisfactory credit record.
If your BVN is linked to unresolved loan defaults or a negative credit history, it may affect your application.
Documents to Prepare Before Applying
Having your documents ready can help you complete the application without unnecessary delays.
Depending on your business, BOI may request:
- Business registration documents
- Company profile
- Business plan
- Valid means of identification
- Bank Verification Number (BVN)
- Financial statements where applicable
- Bank account details
- Tax documents, if required
- Any other supporting documents requested during the assessment
Before submitting your application, check that every document is complete and the information provided is accurate.
How to Apply for the BOI iDICE Fund
Applying for the iDICE Fund is done online through the official Bank of Industry portal. Before you begin, make sure you have all the information and documents that may be required during the application process.
Here’s how to apply.
Step 1: Visit the Official iDICE Portal
Go to the official application website: https://idice.boi.ng
Only use the official BOI portal. Be careful of websites or individuals claiming they can guarantee approval or speed up your application for a fee.
Step 2: Create an Account
If you’re applying for the first time, you’ll need to create an account using your email address and other basic details.
Applicants who already have an account can simply sign in and continue with their application.
Step 3: Choose the Appropriate Funding Category
After logging in, select the funding option that matches your business.
Read the eligibility conditions carefully before proceeding. Applying under the wrong category may affect your application.
Step 4: Complete the Application Form
Provide all the required information about yourself and your business.
You may be asked to enter details such as:
- Business name
- Business address
- Nature of business
- Contact information
- Company registration details (where applicable)
- Funding amount requested
- Description of your business activities
Take your time while filling out the form. Incorrect information can slow down the assessment process.
Step 5: Upload the Required Documents
The portal will ask you to upload supporting documents.
Depending on your business, these may include:
- Certificate of business registration
- Business plan
- Means of identification
- BVN
- Financial records
- Bank account details
- Tax documents, where required
- Other supporting documents requested by BOI
Make sure all uploaded documents are clear and easy to read.
Step 6: Review Your Application
Before clicking the submit button, go through every section of the application.
Confirm that:
- Your name is correctly spelt.
- Your contact details are accurate.
- Your business information is correct.
- The amount requested is accurate.
- All required documents have been uploaded.
A careful review can help you avoid mistakes that may delay your application.
Step 7: Submit Your Application
Once you’re satisfied that every detail is correct, submit your application through the portal.
You should receive confirmation that your application has been successfully submitted.
Keep your login details, as you may need them later to check your application status.
What Happens After You Apply?
Submitting an application does not automatically mean the loan has been approved.
The Bank of Industry reviews each application to determine whether it meets the programme’s requirements.
During this stage, BOI may verify:
- Your business information.
- Financial records.
- Credit history.
- Funding request.
- Documents submitted.
Some applicants may also be contacted if additional information is required.
Why Some Applications Are Not Approved
Not every application will be successful.
Common reasons include:
- Incomplete application forms.
- Incorrect personal or business information.
- Missing supporting documents.
- Poor credit history.
- Existing unresolved loan defaults linked to the applicant’s BVN.
- Businesses that do not fall within the eligible sectors.
Submitting complete and accurate information gives your application a better chance during assessment.
Tips Before Applying
A few simple checks can save you time.
Before starting your application:
- Ensure your BVN is active.
- Confirm your business information is accurate.
- Prepare all required documents in advance.
- Apply only through the official BOI iDICE portal.
- Do not pay anyone to process or fast-track your application.
The Bank of Industry does not appoint agents to sell application forms or guarantee approval.
Frequently Asked Questions
Is the BOI iDICE Fund a grant?
No. The iDICE Fund provides loans to eligible businesses. Approved applicants are expected to repay the loan according to the agreed terms.
How much can I apply for?
Eligible businesses may apply for financing ranging from ₦10 million to ₦100 million, subject to BOI’s assessment.
What is the interest rate?
The programme offers loans at 10% per annum.
How long do I have to repay the loan?
Approved applicants may receive a repayment period of up to five years, depending on the facility.
Is there a grace period before repayment begins?
Yes. The programme provides a moratorium of up to six months, subject to the approved loan terms.
Can a startup apply?
The programme is primarily intended for businesses already operating in the technology, digital or creative sectors. Applicants should carefully review the eligibility requirements on the official portal before applying.
Final Thoughts
Access to finance remains one of the biggest challenges facing many businesses in Nigeria. The BOI iDICE Fund offers an opportunity for technology and creative enterprises to secure funding that can be used to expand operations, develop products, purchase equipment or increase capacity.
If your business meets the programme’s requirements, take time to prepare your documents, complete the application carefully and submit it through the official BOI iDICE portal. Avoid unofficial websites and ignore anyone asking for payment in exchange for approval, as the assessment is handled directly by the Bank of Industry.
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