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Nigeria Secures $200m Afreximbank Deal to Boost Creative Economy

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Nigeria’s creative industries are set for a major boost as the Minister of Arts, Culture, and the Creative Economy, Barrister Hannatu Musa Musawa, has secured a $200 million financing facility from the African Export-Import Bank (Afreximbank).
Specia Adviser on Media and Publicity
Dr Nneka Ikem Anibeze, in a statement indicated that the deal is part of the government’s Destination 2030 initiative, which is targeted at positioning Nigeria as a global leader in culture and creativity by the end of the decade.

The statement quoted Musawa to have described the Afreximbank partnership as a vital step in achieving the Ministry’s ambitious goals, urging investors and development partners to join in transforming Nigeria’s creative sector.

“This collaboration is a key part of our Destination 2030: Nigeria Everywhere vision. We are working to create two million jobs and contribute $100 billion to Nigeria’s GDP. To fully realize this vision, I call on investors, development partners, and global collaborators to support our mission,” Musawa said.

Afreximbank President, Professor Benedict Oramah, announced the $200 million facility during a high-profile event in New York, stating that the funds will support new initiatives that drive sustainable growth in Nigeria’s creative industries.
He highlighted Afreximbank’s Creative Africa Nexus (CANEX) Programme, which is designed to elevate Africa’s share of global trade in cultural products.

“We are proud to partner with the Federal Ministry of Arts, Culture, and the Creative Economy in this initiative, providing $200 million to support Nigeria’s creative and cultural industries,” Oramah said.
“This partnership aligns with Afreximbank’s strategy to enhance Africa’s role as a global cultural leader through tailored financial solutions, technical capacity building, and market access for creative entrepreneurs.”

Minister Musawa also held high-level meetings during the United Nations General Assembly (UNGA), advancing Nigeria’s creative goals.
Her discussions included aligning Nigeria’s cultural initiatives with the UN’s Sustainable Development Goals in a meeting with Amina Mohammed, UN Deputy Secretary-General.
She also presented Nigeria’s 8-point cultural and creative industry plan to U.S. Under Secretary Lee Satterfield.

As part of its Destination 2030 initiative, the Ministry has already seen significant progress, reporting a 36% increase in Nigeria’s Cultural Influence and an 18% rise in the Brand Perception Index as of 2024.

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Culture

G20 Ministers of Culture Meeting in Brazil: Musawa Leads African Union Delegation

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L-R: Hon. Minister of Art, Culture, Tourism and the Creative Economy Barr. Hannatu Musa Musawa Receiving a gift from Margareth Menezes the Minister of Culture Brazil at the close of G20 Ministers of Culture Meeting in Salvador, Brazil at the weekend

Africa’s participation in the G20 Ministers of Culture meeting, led by Barrister Hannatu Musawa, Minister of Art, Culture, Tourism, and the Creative Economy, is a major step forward in the continent’s cultural diplomacy.
The event, which held at the Salvador Convention Centre in Brazil, saw Musawa represent the African Union, where she advocated for the role of Africa’s cultural heritage in advancing economic growth, social cohesion, and global understanding.
Special Adviser on Media and Publicity, Dr. Nneka Ikem Anibeze in a statement indicated that, Musawa also served as the 1st Vice-Chairperson of the Bureau of the Specialized Technical Committee on Youth, Culture, and Sports within the African Union.

L-R: Hon. Minister of Art, Culture, Tourism and the Creative Economy Hon. Hannatu Musa Musawa exchanging Pleasantries with Union Minister of Culture and Tourism of India, Gajendra Singh Shekhawat at the G20 Ministers of Culture Meeting in Salvador, Brazil at the weekend


She quoted Musawa to have expressed gratitude for Africa’s inclusion in the discussions and highlighted the continent’s cultural diversity as a source of strength.
The minister reiterated the urgent need for Africa to capitalize on its cultural resources to drive sustainable development and unity within the continent and globally.

“Africa’s cultural diversity is one of our greatest assets. We must use it as a tool to propel development, foster unity, and create shared growth opportunities,” said Musawa.
“Our inclusion in the G20 dialogues ensures that the priorities of our people are heard, and the global conversation better reflects the needs of Africa.”

The Minister praised the historic nature of the African Union’s involvement in the meeting, which provided a platform for critical conversations around culture’s role in shaping Africa’s future.
Musawa underscored the importance of the G20’s Ministerial Declaration, which calls for increased cooperation, greater support for African culture, and more opportunities for Africa to achieve its goals outlined in Agenda 2063.

Musawa also highlighted the importance of cultural rights, diversity, and dialogue as essential for building resilient, inclusive, and innovative societies.
She emphasized that culture should be viewed as a driver of development and social cohesion, a theme that resonated throughout the discussions.

She extended her thanks to Brazil for its exceptional leadership as G20 President and expressed confidence in South Africa’s upcoming presidency. “We appreciate Brazil’s leadership and efforts to elevate culture within the global agenda. As we look to South Africa’s presidency, we are eager to ensure that Africa’s cultural priorities remain at the forefront,” Musawa said.

Throughout the meeting, Musawa engaged with counterparts from several countries, including Saudi Arabia, Angola, South Africa, Korea, China, and France, focusing on key issues within her ministry’s strategic framework.
One notable outcome the statement said was her bilateral meeting with Brazil’s Minister of Culture, where discussions centered around the rehabilitation of Nigeria’s Cultural House in Salvador as part of the Nigeria Destination 2030 initiative, aimed at preserving cultural heritage and enhancing the country’s cultural diplomacy.

The meeting also highlighted the need for increased investment in Africa’s cultural and creative industries.
The African Union emphasized its strategic vision for inclusive and sustainable development and highlighted the importance of cultural diplomacy in strengthening Africa’s global position.

In closing, Musawa reaffirmed the African Union’s commitment to continued collaboration with the G20 and a stronger emphasis on cultural priorities, ensuring that Africa’s voice is heard and its interests are advanced on the global stage.

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Culture

Musawa Highlights Creative Therapy as a Catalyst for Social Change

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The Minister of Art, Culture and the Creative Economy, Barrister Hannatu Musa Musawa, has emphasized the power of creative therapy in addressing pressing social and health challenges during the Global South Arts and Health Week at the Nigeria Pavilion in Abuja.
Addressing policymakers, healthcare professionals, artists, and advocates, Musawa underscored the vital role of the arts in promoting healing and resilience within communities.
The special Adviser to the Minister on Media and Publicity Dr. Nneka Ikem Anibeze in a statement quoted Musawa to have highlighted how creativity supports mental health, combats displacement, and assists in recovery from pandemics.
“Art has always been a part of our collective human experience, reflecting our identities, providing comfort, and serving as vehicles for hope and healing.
“As we address challenges in health, displacement, aging, and everyday life, the arts offer us a path forward, transforming pain into healing and inspiring the resilience needed to overcome adversity.”

Musawa advocated for arts-based programs that promote maternal health, mental wellness, and social inclusion.
The Federal Ministry of Arts, Culture and the Creative Economy, she noted, is committed to initiatives that unlock the potential of the creative sector, expand access to the arts, and support cultural expression and creative practitioners.

The event set the stage for ongoing collaboration between art and health sectors, aiming to foster social cohesion, enhance mental well-being, and create inclusive spaces through the transformative power of the arts.

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Culture

FG approves Creative Economy Development Fund, IP Monetisation Pilot

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Bola Tinubu

The Federal Executive Council, has approved the establishment of the Creative Economy Development Fund (CEDF) and the rollout of the Intellectual Property (IP) Monetisation Pilot.
The initiatives are designed to provide financial support and leverage intellectual property as a key asset for Nigeria’s growing creative industry.

The CEDF, which will offer a range of financial instruments such as debt, quasi-equity, and equity, aims to boost access to finance for creatives.
It also introduces a groundbreaking model for using intellectual property as collateral to secure financing. According to the Minister of Art, Culture, and the Creative Economy, Barrister Hannatu Musa Musawa, the fund will empower young Nigerian creatives by enabling them to monetize their talents and IP assets.
Special Adviser on Media and Publicity to the Minister, Nneka Ikem Anibeze in a statement quoted her to have explained saying,

“This is a significant milestone for Nigeria’s creative industry. The Creative Economy Development Fund will equip young people with the tools to turn their creative talents into sustainable livelihoods,” Musawa said, during the Council meeting.

“The IP Monetisation Pilot, developed in collaboration with the African Development Bank (AfDB) under the iDICE programme, will serve as a precursor to the creation of a National IP Monetisation Framework, which will be integrated into Nigeria’s broader IP policy.”

The Minister highlighted the government’s collaboration with several key ministries, including Justice, Finance, and Industry, to ensure the smooth implementation of both initiatives.
She added that the ministry is also proposing the Creative Economy Development Fund Act to ensure long-term funding and governance of the CEDF.

The initiatives the statement explained further are expected to revolutionize Nigeria’s creative sector by establishing a robust intellectual property asset base, enhancing access to finance through IP securitization, and boosting investor confidence in the sector.

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