Omodele Adigun with agency report
The Minister of Information and Culture, Alhaji Lai Mohammed, has revealed the Federal Government’s plan to inject N50 billion into the creative industry to effectively play its role in the nation’s development.
Mohammed, who stated this yesterday in Lagos at the All Africa Music Awards (AFRIMA), also disclosed that government was set to commercialise the creative industry in the country.
He explained that government knew that a lot went into the making of an industry and as such , it had resolved to prioritise commercialisation of the creative industry.
His words: “A lot goes into making an industry; from the creative industry to the artiste, the managers, platforms, sponsors, agents, marketers, investors and award concerts like this.
“As we move into 2020, the successful commercialisation of the creative industry is our number one priority because it will create jobs.
“It will also reduce crime, be a major source of foreign exchange and thereby reduce our dependence on oil.
“We in government are tackling all impediments in the industry.
“We are making cheaper and longer terms finance available for the industry, especially for infrastructure like concert halls across the cities in the federation.
“The issues that have plagued the country have now being put on the front burner by the Attorney-General.
“There will be no more excuses; the use of music must be paid for.
“The other big issue is the commercialisation of the digital economy. Data must be cheaper and owners of content must make their money from the use of their works,” he said.
The minister also said that together with the Minister for Communication, government would clean up the advertising industry to make sure proper audience exist and are collated.
Last September at the Creative Nigeria Summit in Lagos, the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, announced that in order to encourage the innovative work of talented Nigerians in music, movie, fashion and Information technology, CBN, in conjunction with the Bankers Committee, pledged the sum of N22 billion for the development of a creative industry parks across three major cities: Lagos, Kano, Port Harcourt or Enugu.
His words: “So far, the CBN and the Bankers Committee intend to support this creative venture with N22 billion of initial funds. Part of our efforts in the music and movie industry will be to support young entrepreneurs in the development of digital content at the park. Our Creative Industry Financing Initiative (CIFI) will also enable the development of distribution outlets such as cinemas and music platforms, which will help improve the reach of the content developed by our young entrepreneurs.
“Our plan is to develop a 40- acre Creative Industry Park around the National Theater including giving the Theater itself tremendous face lift; thereby reopening the tourism potential which the theatre offered during the FESTAC 77. Following the deployment of the pilot scheme in Lagos, we intend to set up similar parks in Kano, Port Harcourt or Enugu.
“Our goal through the establishment of these parks is to create an environment where startups and existing businesses can be incubated and rewarded for their creativity. In each of these parks, efforts will be focused on discovering the most innovative young entrepreneurs across the music, movie, fashion and IT industries. Each park will be able to support skills acquisition for over 200,000 Nigerians.
“These individuals will be empowered with funds at single digit interest rate, state-of-the-art tools, high level training and networks, that will enable them to turn their ideas into a reality. When they are able to achieve this objective of creating a new music product, a high-quality movie, an IT software application, or a fashionable outfit, we will work to ensure that they are able to distribute their work on a large scale around the globe.
“We are cognizant of the fact that a growing creative industry will also support the growth of other sectors of our economy, such as logistic firms, financial service companies, construction firms, as well as legal firms.”
Bankers’ Committee CIFI finally kicks off
…As Buhari approves National Theatre as Creative Industry hub
The stage is now set for the take-off of Creative Industries park, the brain child of the Bankers’ Committee’s Creative Industry Financing Initiative (CIFI) as the conversion of the National Theatre Iganmu, Lagos, as pilot for the project, has got the blessing of President Muhammadu Buhari.
Disclosing this at the weekend in Lagos, Governor Babajide Sanwo-Olu of Lagos said the president has given approval for the transformation of the moribund edifice into an income generating asset for his state and the country.
Sanwo-Olu, who stated this during an assessment of the facility alongside his Deputy, Mr. Obafemi Hamzat; the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, the Chairman of Body of Bank CEOs /the Managing Director of Access Bank Plc; Mr. Herbert Wigwe; the apex bank’s Director of Corporate Communications, Mr. Isaac Okorafor as well as other stakeholders, said that the infrastructure is available and close by is the Iganmu Rail Station that is also currently ongoing.
He added: ‘What we have come to see is for us to be able to give the go-ahead, working with all other stakeholders and our development partners, led by the Governor of the CBN, who are putting investments together to be able to do a first-of-its type entertainment, fashion, music, technology, movies and an all-around creative hub.What we have come to ascertain for ourselves is to also appreciate the extent of an asset that has been conceived as a non-earning asset but I dare say that Mr. President has been gracious to give the go-ahead and turn this dead asset into an income earning state of the art developed fashion entertainment industry.”
In his comments, Emefiele said the Bankers’ Committee planned to use the facility , which when fully developed would be 10 times the size of the Convention Center in Peru, to develop the skills of Nigerian youths in the creative sector of the economy.
His words:“About three years ago, we were at Peru, and I can tell you that if this facility is developed, it will be an asset that will be 10 times the kind of convention centre that we saw in Peru.That is the reason we said that the youths need a chance. We need to give the youths of this country a chance. That is why under our Creative Industry Financing Initiative (CIFI) we said, for those who want to do fashion, those who are into movie, information technology and entertainment industry, we will build a hub around this art theatre, an edifice to accommodate them so that they can develop their God-given gifts.
“I can imagine what this place will look like in another two years if every weekend there will be something happening, it will boost the tourism potential of Lagos state and Nigeria.”
On his part, Wigwe said the intervention is in line with the Federal Government’s vision of lifting 100 million people out of poverty. “With the creative village that is being created, definitely, we would provide employment for at least a million Nigerians who have skills in music, IT, movies, etc.”