General News
Minister of Art , Culture, Tourism and Creative Economy outlines Achievements
In the past four months, we have achieved significant milestones in advancing Nigeria’s creative economy and tourism sector.
Our vision is to build an integrated, data-driven, and investment-friendly ecosystem that unlocks the full potential of these industries.
1. Launching the D30 Platform
One of our most exciting initiatives is the D30 Platform—a comprehensive, publicly accessible database that maps our current industry landscape and offers forward-looking insights.
• Infrastructure Audit: A tool to guide public-private partnerships and target investments.
• Industry Forecasts:
Our forecasts are built on clear, data-driven assumptions that incorporate planned investments, forthcoming policy reforms, and key infrastructure developments. These assumptions will be transparently shared on the platform to guide investors, highlight the government’s proactive role, and support our Destination 2030 goal of creating two million new jobs in the creative industries and tourism sector.
The D30 Platform is a critical component of our broader strategy, developed by VIISAUS in collaboration with Cavista Technologies and enriched by insights from industry experts.
2. Establishing CEDF and CITICo
To drive sustainable investment, we are setting up the Creative Economy Development Fund (CEDF) and the Creative Industries & Tourism Infrastructure Company (CITICo):
• CEDF will leverage innovative financing—combining debt, equity, and grants—to support high-potential areas within the creative economy.
• CITICo is designed as a predominantly private-sector-led investment vehicle focused on developing creative and tourism infrastructure.
An initial commitment of $2 million has already been allocated through FMACTCE for the revitalisation of the Obudu Cattle Ranch in Cross River State.
3. Operationalising the NGN 300 Billion Funding Facility
We are excited to announce the operationalisation of the NGN 300 billion funding facility in partnership with Afreximbank. FMACTCE is working closely with the bank to deploy capital into strategic opportunities through CEDF and CITICo, with Ernst & Young serving as our principal advisors.
4. Developing Abuja Creative City
Under CITICo, we are launching Abuja Creative City—a landmark 30-hectare development in Idu Industrial City, Abuja. In partnership with Creative Limited, the developers of Madhouse Studios in Lagos, this project will create a dynamic, mixed-use space for creative businesses, entertainment, hospitality, and real estate, ensuring a sustainable ecosystem for the sector.
Integrated Partnerships
We are proud to have established several integrated partnerships across all the projects presented today. Our strategic partners include:
• Cavista Holdings
• Cavista Technologies
• Creative Parks Limited
• Ernst and Young
• Future Tech Media
• MTN
• VIISAUS
• Wakanow
These collaborations are vital to strengthening our commitment to driving growth and innovation in Nigeria’s creative economy and tourism sector.
Ladies and gentlemen, these initiatives mark the beginning of a transformative journey for Nigeria’s creative economy and tourism sector. Through strategic investments, public-private collaboration, and transparent planning, we are creating an investor-friendly environment that will drive growth and help us achieve our ambitious goal of creating two million new jobs by 2030.
Thank you.
