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Big Boost for Culture, Tourism as Nigeria Secures $200m Lifeline

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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.

Abuja Reports

Matawalle’s Nine Children to Wed in Single Abuja Ceremony

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By Onyeanya Immaculata

Preparations have been concluded for the wedding of nine children of the Minister of State for Defence, Bello Matawalle, scheduled to hold on February 6 at the Abuja Central Mosque.

An invitation card circulating on social media indicates that the ceremony will take place at 1:30pm and will involve five sons and four daughters of the minister.

Confirming the development, the All Progressives Congress (APC) spokesperson in Zamfara State, Yusuf Idris, said arrangements were at an advanced stage, noting that he is part of the organising committee.

“By the grace of God, the ceremony will be conducted at the Abuja Central Mosque on February 6. The minister’s children who are getting married are five sons and four daughters,” Idris said.

The children slated for the same-day wedding are Ibrahim, Suraj, Safiya, Maryam, Aisha, Fahad, Muh’d, Nana Firdausi and Farida.

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Culture

Ex-ICAN President Emerges as New Fusengbuwa Ruling House Head

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By Huldah Shado

Otunba Abdulateef Owoyemi, former President of the Institute of Chartered Accountants of Nigeria, has been appointed as the new head of the Fusengbuwa ruling house in Ijebu-Ode, Ogun State. The development comes after the resignation of Dr. Kunle Hassan, founder of the Eye Foundation Hospital, who stepped down as the family head.

The change of leadership was announced during a special Fusengbuwa Ruling House Unification and Integration Meeting held at Oba Adesimbo Tunwase Court, Agunsebi, Ijebu-Ode. Hassan’s resignation was attributed to “current developments and dynamics” following the passing of Oba Sikiru Kayode Adetona, the Awujale of Ijebuland, who reigned for 65 years before his death on July 13 at the age of 91.

Hassan, who also chairs the Governing Board of Olabisi Onabanjo University Teaching Hospital, Sagamu, thanked those who supported him during his tenure as the head of the ruling house. He urged family members to unite behind Owoyemi, saying, “This is the appointed time for Otunba Owoyemi. He has been in it for over 40 years, but when it is the right time, the good Lord blesses it, and that is what we witnessed today.”

In his acceptance speech, Owoyemi promised to lead the ruling house with fairness and integrity. “I have been a very senior member of the Fusengbuwa ruling house for over 44 years, including about 10 years in leadership roles. I am conversant with the challenges, but with God and the people on my side, they are not insurmountable,” he said.

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Lagos Police Restrict Egungun Festival to Designated Venues Amid Rising Clashes

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By Sarah Sam Adda

 

The Lagos State Police Command has directed that all activities of the annual Egungun Masquerade Festival be restricted strictly to designated outing points and approved celebration venues.

The move follows escalating clashes among rival masquerade groups and reports of violence and property damage in parts of the state.

In a statement issued on Sunday, the Command’s spokesperson, CSP Benjamin Hundeyin, said the directive prohibits public processions and street marches.

He explained that the restriction aims to protect lives and property while ensuring residents of other faiths are not subjected to harassment during the festivities.

Hundeyin stressed that the decision was taken to forestall further breaches of public peace, noting that rivalries between Egungun groups had intensified in recent days.

He warned that individuals or groups who defy the order or engage in activities that threaten security would face the full weight of the law.

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