Tinubu's commitment to creatives, digital economy spurs $671m

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The Special Assistant (SA) to President Bola Tinubu on Arts, Culture, and Creative Economy, Ayo Adeagbo, has revealed that the president’s commitment to the digital economy led to the establishment of $671 million in investment funds to support Nigerian creatives and develop the digital sector.

Adeagbo, on Saturday in Ibadan, made this known during the Oyo State Digital Economy Summit (OSDES 2024) with the theme ‘Connecting minds to spark innovation in Oyo State’.

Adeagbo stated that President Tinubu recognises the roles creatives play in economic development, which is why, for the first time, he created the Ministry of Arts, Culture, and Creative Economy and his (Adeagbo) portfolio too.

“A remarkable example of our investment is in the establishment of the $671 million investment funds for people in the digital and creative industries,” he said.

He further said that the fund is a commitment by the Federal Government to unleash the deeply rooted potential of Nigerian creatives and to establish a blueprint for sustainable financial and skill development and market access in the digital creative industry.

Adeagbo enjoined creatives to be consistent in their creative journey and to stand firm on the path of innovation they have chosen.

Expressing his pleasure in the outstanding creative personalities that Oyo State has raised over the years and will continue to raise, he urged creatives in the state to leverage the fund to distinguish themselves and develop the state and the country.

Adeagbo encouraged creatives to engage with him on ways to further enhance the creative and digital ecosystem, adding, “We are all stakeholders in this ecosystem, and my ultimate goal is to ensure that our interests are represented to the best of my ability.”

The immediate past Oyo State Commissioner for Youth and Sports, Dr Seun Fakorede, advised creatives to leverage the power of storytelling and the right digital platforms to sell their brands and works.

“I don’t tell my stories like an Ibadan boy or like an Oyo boy. I tell my stories like a global ambassador. Ibadan, Oyo State, or Nigeria is not the competition; the competition is on a global scale,” he said.

Stressing that assumption is the worst form of ignorance, Fakorede advised the audience to understand what the digital economy is, because if they do not, they might not be able to fully maximise it and properly apply it to their work.

“The digital economy made people like me, and I have many friends who are beneficiaries of the digital economy,” he added.

One of the organisers of the summit, Balogun Danjuma, who is also the convener of the Ibadan Tech Expo, noted that the essence of the event was to empower the next generation of entrepreneurs, creators, and professionals to participate in the global economy.

Danjuma added that the event also aimed at gathering creatives to brainstorm ways to leverage the digital space and economy and to give back to society.

He stated that he would help Oyo State creatives tap into the investment funds the Federal Government has approved for the development of the digital economy.

“Everybody in Oyo State should embrace the digital economy. That is where the money is. Even businesses are keying into it. Good thing, even without funding, we are doing well,” he said.

Other speakers at the event were Ayo Adams, Josiah Adegboye, Alamu Akinkunmi, Victoria Ajiboye, Taofeek Ibrahim Adeshina, Lumee, JesuDamilare Adesegun-David, Adebayo Ibrahim, Taiwo Egunjobi, Tomi Walker, Taiwo Akinropo, Aunty Arike, Fayo Williams, and Akinyoola Ayoola.

In the course of the event, there were panel sessions, business pitches, exhibitions, and networking sessions, among others.

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