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Osinbajo opens creative industry financing conference in Lagos today

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Nigeria’s Vice President Yemi Osinbajo

In line with the Federal Government’s resolve to diversify the economy through strategic empowerment of critical sectors, the Acting President, Professor Yemi Osinbajo (SAN), will open the Creative Industry Financing Conference holding at Eko Hotels and Suites, Lagos, today and tomorrow, Tuesday, July 18, 2017.

With ‘Financing the Film, Television and Music Industries,’ as its theme, the conference is being organised by the Federal Ministry of Information and Culture, in conjunction with Think Tank Media and Advertising headed by Dr. Muyiwa Gbadegesin.

The conference’s primary objective, according to Information and Culture Minister, Alhaji Lai Mohammed, is to take the industry into a golden era of smooth access to short and long term financing, world class management as well as local and international distribution.

Speaking at a news briefing in Lagos at the weekend, the minister said the conference was conceived to address the lack of access to financing, which is stunting the growth of the creative industry. “It is the latest in a series of conferences and other events that we have held since assuming office. Recall that we held the landmark National Summit on Culture and Tourism last year to chart the path for the industry. Most of its recommendations are already being implemented,” Alhaji Mohammed said, adding that the conference reflects the significance that Buhari administration attaches to the creative industry as the government sees it as the new oil that is going to propel Nigerian economy to greater heights.

Essentially, the conference grows fro the understanding that Nigeria, as the third largest film industry in the world, the most successful music industry on the continent, and the second largest television household market in Africa, evolved without a plan, without government effort and without well-structured financing.
“Now, we are desirous of exploiting and exploring these potentials,” the minister said.

‘’As you are undoubtedly aware, this Administration attaches a whole lot of importance to the Creative Industry. This is in line with its cardinal programme of diversifying the economy away from oil,’’ he said, adding: ‘’There is no better demonstration of the high priority given to the Creative Industry than the fact that the Acting President, Prof. Yemi Osinbajo, himself will declare open the Creative Industry Financing Conference.’’

The Minister said the overall essence of the Ministry’s efforts is to transform the Creative Industry to a Creative Economy. “We also believe that this transformation must be driven by the private sector, with the government providing the enabling environment,” he said.

The topics to be tackled by experts from within and outside Nigeria include ‘Government’s Role in Funding Creative Industry: The Bank of Industry Experience’, ‘Fundamentals of Financing Film, Television and Music Production’ and ‘Film, Television and Digital Distribution’

Speakers at the conference include, chair of the Lagos State Internal Revenue Service, Hamzat Ayodele Subair; CEO of the Nigerian Investment Promotion Commission;  Yewande Sadiku; founder of Iroko TV, Jason Njoku; Alex Okosi of Viacom International Media Network; Jeff Kalligheri of Waterstone Entertainment and Kene Mkparu of Filnhouse Cinemas.

Others are Lindsey Oliver of Chiswick Park Studios, Rachel Glaister of EVP International Brands and Press; Adeola Bali of Garment Care Limited, Sanjay Salil of MediaGuru and Pai Gamde of the Nigerian Stock Exchange.


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Lai MohammedYemi Osinbajo

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