Creative Economy Ministry Secures $200m Afreximbank Fund To Drive Investments
The Federal Ministry of Arts, Culture and Creative Economy at the just concluded United Nations General Assembly (UNGA) in New York promoted an investment drive for the creative economy and secured $200m worth of investment from Afreximbank.
The Minister, Hannatu Musawa told investors at a programme themed: “Destination 2030:Nigeria Everywhere event” that Nigeria’s vibrant artistic heritage is always investors’ delight that promises a good return on investment.
The Minister told investors that Nigeria’s vibrant culture and creative excellence seen with the global impact of its artists and cultural heritage are major headstarts for its creative economy, which is elevating the nation’s global investment presence.
Commenting further on ‘Destination 2030,’ the Minister noted that Nigeria aims to assert its cultural influence and strengthen its position as a leading creative hub, while significantly contributing to global cultural diplomacy and spurring economic growth.
“The Destination 2030 event was a vibrant celebration of Nigeria’s rich cultural tapestry,” the minister stress
A crucial component of the Destination 2030 vision is the Ministry’s partnership with the African Export-Import Bank(Afreximbank Bank).
Professor Benedict Oramah, President and Chairman of Afreximbank, at the event, took the stage to highlight the bank’s commitment to Nigeria’s creative Industries.
He announced a $200m financing facility aimed at supporting the Ministry’s new initiative, stressing that investing in the creative industries is about building a foundation for sustainable economic growth and positioning Africa as a global cultural leader.
It would be noted that central to the “Destination 2030″initiative is Nigeria’s goal to establish itself as a global soft power leader by 2030.
As of 2024, the Creative Economy Ministry reported a 36 percent increase in Nigeria’s cultural influence alongside an 18 per cent increase in the brand percent index, reflecting the positive reception of Nigeria’s cultural diplomacy efforts on the global stage.
