By Oso Abidemi 

Nigeria’s creative and tourism sectors are set for a major transformation as the Federal Government has secured a $200 million commitment from AFREXIM Bank to jumpstart cultural and creative industries across the country.

The initiative, according to the Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musa Musawa, will be operational from June 1, 2025.

Unveiling the plan at a ministerial briefing in Abuja, Musawa announced the launch of the Creative Economy Development Fund (CEDF) approved by the Federal Executive Council.

The fund is designed to offer affordable loans and investments to high-potential creative businesses through debt and equity financing.

In collaboration with the Ministry of Finance Incorporated (MOFI), the ministry plans to catalogue, value and securitise both tangible and intangible government assets within the creative and tourism space.

Musawa said this would unlock new streams of value while boosting confidence among investors.

She also revealed a partnership with the Federal Inland Revenue Service (FIRS) aimed at strengthening tax compliance and revenue generation within the sector.

Highlighting major strides taken in recent months, Musawa listed the establishment of the Creative and Tourism Infrastructure Corporation (CTICo) with a projected $100 billion investment and a target of two million new jobs.

She announced the Abuja Creative City project—a first-of-its-kind hub to be built on 26 hectares in IDU Industrial Area—as well as the creation of the Nigerian Academy of Cultural Studies (NACUS) in four key cities.

Other initiatives include: Launch of the D30 Data Platform to enhance access to cultural and tourism data Creative Leap Acceleration Programme (CLAP) to support startups.

Restoration of historical sites and cultural heritage through the Renewed Hope Cultural Project Development of cultural villages across Nigeria.

Renovation of national museums Partnership with Mefa Abuja for the construction of six world-class performance venues.

Musawa also announced new collaborations with BigWin Philanthropy and IHS Nigeria for youth employment and digitisation of Nigeria’s cultural heritage, respectively.

Funding support from the French Treasury has also expanded to €100 million for infrastructure development in the creative space.

Despite these bold moves, the Minister admitted that funding, global competition, poor infrastructure, and lack of tools remain major challenges.

However, she reaffirmed the ministry’s commitment to drive President Tinubu’s vision of economic diversification through the cultural and creative economy.

“In just 18 months, we have attracted significant investments, created platforms for innovation, and are building infrastructure that will not only create jobs but elevate Nigeria’s cultural relevance globally,” she declared.

By Abaire Olanlesi

The Lagos Waste Management Authority (LAWMA) has warned against illegal recycling and scavenging in unlicensed facilities, citing environmental and legal violations.

Managing Director Dr. Muyiwa Gbadegesin emphasized that such activities breach the Lagos State Environmental Management

Law (2017) and will attract strict penalties. He urged residents to use only registered waste collectors and report violators.

As part of enforcement efforts, LAWMA dislodged illegal recyclers at Ijora-Olopa underbridge, with similar crackdowns planned across Lagos.

Property owners permitting unauthorized recycling risk legal action, including revocation of property rights.

By Cynthia Abah

Oba Abimbola Owoade, the newly appointed Alaafin of Oyo, will commence a 21-day traditional ceremony marking his ascension to the throne.

Governor Seyi Makinde officially presented him with the staff of office on Monday, following his announcement as the new monarch on Friday.
Oba Owoade succeeds the late Oba Lamidi Adeyemi III, who passed away three years ago. The ceremony was attended by the Oyomesi (kingmakers), government officials, and other dignitaries.
After the event, a source confirmed that the new Alaafin has traveled to Oyo town to begin his traditional rites, which are essential for his coronation.