A nationwide Owambe in September
The Nigerian creative industry is going to be worth $100 billion soon and it starts with one hell of an owambe
Any small thing, Monday. I closed my eyes for one second and the weekend passed by like breeze. Where are you mentally today, Big Brains? Ready to be world-class? Start by picking up a few talking points to use at work today by reading the smartest newsletter in Nigeria!
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This Week’s Big Question - “If could get a nepo-advantage to become an Olympian, what sport would you play?” Share your responses with us and if we think it’s fun enough, we’ll feature it in the newsletter :) so be on the lookout.
Let’s get into the news you missed during the weekend:
FG launches cultural event to drive creative industry's $100bn goal for the economy by 2030
41% of American youths believe that Harris is more capable of fixing the economy than Trump
Tinubu urged to investigate FG and 36 states over $1.5bn World Bank loan and $3bn Chinese loan
The Big Deal
FG launches cultural event to drive creative industry's $100bn goal for the economy by 2030
Nigerian creatives, assemble! The federal government is hosting a national owambe on September 24; the passcode is creativity.
Calling the event owambe might be a stretch, but the minister of Art, Culture, and the Creative Economy, Hannatu Musa Musawa, did say that the event is “a celebration of Nigeria’s creative spirit and cultural heritage. It provides a unique opportunity to highlight Nigeria’s creative talents on a global stage, foster international collaborations, and promote the growth of Nigeria’s creative economy.”
This event, which is supported by the African Export-Import Bank (Afreximbank), is just a small part of the strategy the Tinubu-led administration is exploring to achieve a $100 billion goal.
Why is this a big deal?
The creative industry in Nigeria has gotten pretty big, mostly without the government's support, but according to Hannatu, that will change soon.
Like the African parents that never take your creative dreams seriously until you start making major bucks, FG has seen the potential of the billion-dollar industry and it has a new goal – make the industry worth $100 billion before 2030. Ramin Toloui, the Assistant Secretary for U.S. Economic and Business Affairs, also confirmed that this goal is light work if FG is serious about it.
Countries like the US have a robust creative economy that contributes over $1.1 trillion to the country’s economy. This shows how big the industry can be with the support of a strategic and visionary government.
FG is a few billion late to the party but better late than never, yeah? Maybe Nigerian parents will finally let their creative kids be creative without asking them to get serious now that FG is on board.
41% of American youths believe that Harris is more capable of fixing the economy than Trump
Kamala Harris’ chance of becoming America’s first female president has been questioned since Biden dropped out of the race. But 2024 has proven to be a year of plot twists and American youths just gave us one.
The Youth & Money Survey recently revealed that 41% of youths believe that Harris has what it takes to fix the country’s economy. This is a huge win for the Democrats. When Biden was still in the race, only 34% of youths believed that he could improve the economy in his second term. With 40%, Trump was chosen to be the money-smart candidate. We don’t know how but Harris has convinced American youths that she can outdo Biden and Trump economically.
The support for Harris also runs deeper than just money. According to CBNC, she currently holds a 12-point lead over Trump among younger Americans, with 46% supporting her and 34% backing Trump, while 21% said they would vote for Kennedy or another candidate.
We guess Kamala’s TikToks and hiphop campaign rally opening performances have started paying off.
Tinubu urged to investigate FG and 36 states over $1.5bn World Bank loan and $3bn Chinese loan
The Socio-Economic Rights and Accountability Project (SERAP) has challenged President Bola Tinubu to find out how a $1.5 billion World Bank loan, meant for poverty reduction in Nigeria’s 36 states and Abuja, was actually spent. To make the investigation easier for the President, SERAP also recommended the Attorney General and Minister of Justice, Lateef Fagbemi, as the man for the job.
But that’s not all—they’re also pressing for a closer look at another $3.1 billion in loans from China, which SERAP suspects might have been mismanaged by the Federal Government. They want the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) to give the public a clear idea of where this money went.
Funds mismanagement is as regular as the sun that rises every morning in Nigeria. Still, SERAP is calling for a change and they’re not afraid to hold the government accountable even if that means they need to keep following the money until the truth is out.
The Big Picks
‘We Deserve More,’ Sports Minister Apologies For Nigeria’s Olympics Performance: President Bola Tinubu approved ₦12 billion for Nigeria's participation in the Olympics and Paralympics, allocating ₦9 billion for the Olympics and ₦3 billion for the Paralympics. However, despite this funding, Nigeria finished the games without winning a single medal.
Poland Says Nationals Didn’t Fly Russian Flags In Kano: Polish Deputy Minister of Foreign Affairs, Andrzej Szejna, told RMF FM, a private radio station, that the six students and their teacher "were simply in the wrong place at the wrong time."
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