If there is one sector of the Nigerian economy that has experienced exponential growth in the past few years, it is certainly the Entertainment industry. The international community has since recognised the abundant potential in the Nigerian film and music industry and gone on to bestow our artisans with international awards. However, Vice President Yemi Osibanjo has alleged that the Buhari led administration has had a hand to play in this development.
He made the disclosure at the weekend in a message delivered at the opening of the Ogidi Studios – a Lagos-based world-class creative complex – hosting recording, film production, animation and writing studios, owned by the Temple Company.
The Vice President said: “Last year, the Federal Government handed over the control of the National Theatre to the Central Bank of Nigeria and the Bankers’ Committee. The Bankers’ Committee has committed to an investment of N25 billion as initial funding for the development of the Nigeria Creative Centre at the National Theatre, Lagos.
“The Bank of Industry in collaboration with the National Council for Arts and Culture also has a N300 million loan package for the creative sector. The package provides the funds to the sector at single-digit interest rates with a tenor of four to five years.”
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