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FG Makes Big Move, Releases $617m To Transform Nigeria’s Digital Economy.
The Federal Government has unveiled a $617 million financing package aimed at boosting Nigeria’s digital and creative industries, expanding access to funding and attracting more private-sector investment into the sectors.....KINDLY READ THE FULL STORY HERE▶
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, announced the initiative on Thursday during the opening ceremony of the 2026 Creative Africa Nexus Weekend (CANEX) in Lagos.
According to Oduwole, the funding will be provided through the Bank of Industry under the Investment in Digital and Creative Enterprises (iDICE) programme, with backing from the Office of the Vice-President.
She explained that the initiative would give young Nigerian entrepreneurs and businesses operating in the technology and creative sectors better access to finance, business support, skills development and essential infrastructure.
The minister said the government was looking to attract investments across different segments of the creative economy, including music, film, literature, fashion, gastronomy, sports, gaming, crafts, design and creative technology.
“Our ambition is a deal from every part of the creative economy, from performing arts to film to literature to gastronomy to fashion to sports and gaming to craft and design to creative technology and infrastructure,” she said.
Oduwole pointed to the investment history of Mavin Records as evidence of the Nigerian creative industry’s capacity to attract major institutional investors and deliver commercial returns.
In 2019, Kupanda Capital and TPG Group invested more than $10 million in the music label established by Don Jazzy. Universal Music Group later acquired a majority stake in Mavin Records in 2024, creating an exit opportunity for TPG.
She noted that the transaction had provided a practical example of how investors could recoup their investments in Nigerian creative enterprises.
“Today, when an investor asks a Nigerian filmmaker or music executive, ‘How do I get my money back?’ They can point to the Mavin deal as a win for the investors in our creative economy,” she said.
“Yet, we need more of that profit to stay in the hands of more of our creatives, right here at home.”
The minister also highlighted ongoing government efforts to expand market opportunities for Nigerian businesses and strengthen intellectual property protection.
Among the initiatives she mentioned were Nigeria’s recognition as co-champion of the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade in February 2025 and the Federal Executive Council’s approval of the country’s first National Intellectual Property Policy and Strategy in November 2025.
Oduwole said the digital trade framework would enable Nigerian businesses to access wider African markets through services such as music licensing, film production and distribution.
She further revealed that the government unveiled its Creative Sector Investment Playbook at the World Economic Forum in Davos in January 2026 to identify investment opportunities across the creative economy.
Nigeria’s bid to host the 2027 Intra-African Trade Fair is also part of the government’s strategy to attract international investors and promote local creative enterprises.
According to Oduwole, President Bola Tinubu approved the hosting bid in November 2024. The proposed event is expected to coincide with the 50th anniversary of FESTAC ’77 and the reopening of the National Theatre, now renamed the Wole Soyinka Centre for Culture and Creative Arts.
The minister also disclosed that the 2026 CANEX edition recorded 17,000 registrations, a significant increase from the 6,000 participants recorded at its previous edition.
“We beat every record with this CANEX. The last CANEX had 6,000 people. We had to stop registration at 17,000 people,” she said.
Meanwhile, Vice-President Kashim Shettima said the Federal Government was taking steps to improve intellectual property protection, expand access to finance and establish Nigeria as a major force in Africa’s creative trade.
Shettima described creativity as an increasingly significant component of global commerce and called on African countries to transform their cultural resources into viable economic opportunities.
“From FESTAC ’77 to CANEX 2026, Africa returns to the same stage, but we return with a difference. In 1977, we came to celebrate our culture. In 2026, we come to capitalise on it, to turn the applause of the world into contracts, its admiration into markets, and the talent of our young people into enduring wealth,” he said.
The Vice-President also praised the African Export-Import Bank (Afreximbank) for committing $2 billion towards supporting creative industries across the continent through 2027.
He recalled that the 2024 CANEX attracted nearly 4,000 participants from 81 countries and facilitated business transactions valued at more than $540 million.
Shettima encouraged participants at the Lagos event to focus on securing tangible business agreements, distribution partnerships and investment opportunities.
“To our creatives, do not leave Lagos with memories alone. Leave with a signed term sheet, a distribution deal, and a buyer’s handshake. The world is ready to pay for what you make,” he said.
He further urged African governments to eliminate trade restrictions that prevent creative businesses from distributing their products and receiving payments seamlessly across the continent.
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Fani-Kayode Rejects NLS Senior Counsel Rank, Reveals Why He Never Approved It.
Nigeria’s Ambassador to South Africa, Femi Fani-Kayode, has distanced himself from the Senior Counsel of Nigeria (SCN) title reportedly awarded to him by the Nigerian Law Society (NLS).....KINDLY READ THE FULL STORY HERE▶
The former Minister of Aviation maintained that he neither authorised nor approved the acceptance of the designation.
In a statement issued on Friday through his Special Assistant on Media, Lizzy Okoji, Fani-Kayode explained that representatives from his office attended the society’s event following an invitation extended to him.
He, however, clarified that he was not personally involved in the decision to accept the title and had no intention of giving the impression that he endorsed the designation.
The statement read, “His Excellency wishes to categorically state that he did not personally authorize or approve the acceptance of the said designation and hereby formally disassociates himself from the purported conferment.
“The circumstances surrounding the representation and subsequent communication of acceptance were regrettable and arose from an unfortunate administrative misjudgment, without any intention whatsoever to misrepresent His Excellency’s personal position or professional convictions.
“As a legal practitioner of over 41 years standing, His Excellency would be the last person to knowingly engage in any act that violates the law, undermines the integrity of the legal profession, or brings the profession into disrepute.”
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Amaechi Reveals Why He Fled Nigeria After Alleged Threat By Obasanjo.
The African Democratic Congress (ADC) vice-presidential candidate, Rotimi Amaechi, has blamed former President Olusegun Obasanjo for his children’s decision to pursue their education outside Nigeria.....KINDLY READ THE FULL STORY HERE▶
Amaechi said the decision was influenced by the political crisis he encountered during Obasanjo’s administration.
The former Rivers State governor made the disclosure during an interview with News Central Television on Friday, November 6, 2026.
He recounted how Obasanjo allegedly worked against his ambition to become Rivers State governor in 2007, despite emerging victorious in the Peoples Democratic Party (PDP) governorship primary in 2006.
According to Amaechi, the disagreement escalated to the point where the former president allegedly threatened to have him arrested, forcing him to leave the country.
He disclosed that he spent about 10 months outside Nigeria while pursuing legal action over the political situation.
Amaechi added that the crisis also affected his wife and children, who were reportedly forced to move from one residence to another to avoid possible trouble.
He explained that the unstable situation made it difficult for his children to continue their education in Nigeria, prompting the family to send them abroad to ensure their safety and uninterrupted schooling.
Speaking during the interview, Amaechi said:
“President Obasanjo tried to stop me from being a governor but you will see that I did not go to sleep, I went to court and when he threatened arrest, I left the country.
“My children did not go to Nigerian school because Obasanjo chased us out of Nigeria. My wife and children were running from one house to another. They had to go to school outside the country to stay alive and to keep learning.”
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INEC Breaks Silence On David Mark’s Fate As ADC Chairman After Court Ruling.
The Independent National Electoral Commission (INEC) has dismissed claims that it has reaffirmed the Senator David Mark-led leadership of the African Democratic Congress (ADC).....KINDLY READ THE FULL STORY HERE▶
In a statement issued on Friday, the commission described as fake a poster circulating on social media which claimed that INEC had recognised David Mark as the party’s National Chairman following Thursday’s court judgment that invalidated his leadership.
INEC clarified that the publication did not originate from the commission and urged Nigerians to disregard the information.
The electoral body also warned that the unauthorised use of its logo and the image of its National Commissioner, Mohammed Haruna, in the publication was misleading.
The statement read, “The Independent National Electoral Commission (INEC) wishes to alert the public that a poster and accompanying text circulating on social media, claiming that the Commission has ‘reaffirmed’ a Senator David Mark-led leadership of the African Democratic Congress (ADC), are fake.
“The said poster did not originate from the Commission. The use of INEC’s logo and the image of the National Commissioner, Mohammed Haruna, in the said publication is unauthorized.
“For the avoidance of doubt, INEC has issued no such reaffirmation.
“Members of the public are therefore advised to disregard the publication in its entirety and to rely only on information from INEC’s official and verified channels.”
INEC Insists 2027 Elections Will Hold As Scheduled
Meanwhile, INEC Chairman, Professor Joash Amupitan, has dismissed speculations that the 2027 general elections could be postponed.
Amupitan gave the assurance on Thursday in Lokoja while addressing members of the Kogi State Council of Chiefs during his visit to assess preparations for the 2027 elections in the North-Central geopolitical zone.
He maintained that the elections would take place as scheduled, dismissing concerns about a possible shift in the electoral timetable.
The INEC chairman recalled that under his leadership, the commission had successfully conducted elections in Anambra, Ekiti and Osun states, as well as the Federal Capital Territory, Abuja. He also highlighted the conduct of 16 by-elections within one year.
He expressed confidence in INEC’s ability to replicate the achievement during the forthcoming general elections.
Amupitan further assured Nigerians that the commission remained committed to conducting credible, transparent, free and fair elections in accordance with its constitutional responsibilities under Section 153 of the 1999 Constitution, as amended.
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