Minister Hannatu Musawa, overseeing Art, Culture, and the Creative Economy, is gearing up to launch a groundbreaking $617 Million IDICE Fund in partnership with the African Development Bank (AfDB).
During a pivotal meeting in Abuja on Thursday, Minister Musawa and AfDB’s Director General, Mr. Lamin Barrow, underscored the immense potential of the Creative Economy to foster employment opportunities for Nigeria’s youth.
“The IDICE fund stands as a game-changer, poised to channel additional long-term financing into this vibrant sector,” remarked the Minister, emphasizing the eager anticipation from the creative community.
“We eagerly await the finalization of conditions precedent for the release of IDICE funds. It will empower young creatives with startup capital, facilitating the nurturing and commercialization of their talents,” Minister Musawa expressed with enthusiasm.
The Minister lauded AfDB and other stakeholders for their remarkable achievement, which is now becoming a model for other African nations. She praised the investment focus on impact, including geographical diversity, FGN’s first loss position, and grants for capacity development, vowing to echo this ethos in FMACCE’s nationwide campaign on the initiative.
Highlighting the IDICE structure as a platform to secure fundraising initiatives for her Ministry, Minister Musawa affirmed a thorough exploration of this opportunity.
Source: LeadershipNG