FG Invests $617M In Digital Economy & Creative Enterprises

By: Wisdom Acka

President Bola Ahmed Tinubu has so far invested $617 million in digital economy and creative enterprises, known as iDICE,
to boost entrepreneurship and innovation in the sector.

Senior Special Assistant to the President on Arts, Culture and Creative Economy, Ayo Adeagbo, made this disclosure at an event organized by the African Fashion and Arts Awards (AFAA), in conjunction with other private and public organizations in Abuja.

Accordingly, the event drew in famous fashion designers, arts enthusiasts, business and marketing personalities from across Africa.

The SSA, who was one of the speakers at the event,
called on youths with talents to access the funds.

Adeagbo explained that it was meant to provide them with start-up capital and resources to nurture their talents into productive ventures.

The SSA also revealed that there was a N5billion loan offered by Providus Bank, dedicated to empowering Nigerian creatives.

The FCT Minister of State, Dr. Mariya Mahmoud, who was represented at the occasion by the Acting Director, Department of Arts and Culture, Social Development Secretariat, Kayode Aiyegbusi, underscored the importance of synergy between the private and public sectors to grow the creative economy.

Mahmoud pledged that government would continue creating the enabling environment for the industry to thrive.

Similarly, the Co-founder, AFAA Foundation, Mrs. Lynda Agiriga, stated that AFAA was more than an organization, but rather a movement that embodies the African spirit of resilience and creativity; aiming at facilitating multilateral cooperation that could elevate African cultures and arts to higher heights on global stage.

Agiriga stated that the mentorship summit would provide trainings for the enhancement of capabilities and empowerment through productive networking and creativity.

On his part, Convener of the AFAA summit, Kingsley Amako, who described the creative industry as “the next oil boom”, encouraged youths to develop their skills, build capacity and learn to produce and market their products.

According to Amako, AFAA provided them the platform that would give them recognition and visibility.

Abuja Digest reports that it was an alluring display of the diverse African cultures and creativity in Abuja as major players from the cultural, arts and creative sector converged on the Nigerian capital to promote the industry.

Abuja Digest further reports that while some took turns in showcasing their products at the “business and mentorship summit”, others spoke on different innovations introduced for product improvement as well as commercialization strategies.

Some of the cultural and artistic products on display in abundance at the event ranged from clothings, shoes, bags to jeweries, among others.

Highlight of the event was the exhibition of Nigerian fashion by young Nigerian models, who dazzled the audience when they intermittently took to the ‘runway’, all dressed in beautifully made African attires.