FG activates N240bn ADB facility for tech, creative sectors – In an unprecedented move to the reef entertainment, creativity and technology sectors in the country, the Bukhari administration has now begun a process, which will pump sectors with over 200b Nigeria’s financing and investment set to take off by the end of the year.
An established source published over the weekend that funding that is special of $ 500 million has been issued by AfDB is the prospect of exploiting the potential of Nigeria’s creative and technology industries.
According to the sources for the $ 500 million fundraising in support of the so-called Nigeria Innovation Program (NIP) is currently underway even with a report of the AfDB’s initial project funding proposal and other sponsors presented to the Vice President in a few days ago.
Confirming the meeting, Mr Laolu Akande, Special Adviser on Media and Publicity in the Presidency said it was a public knowledge that the Vice President, Prof. Yemi Osinbajo had publicly spoken about the $ 500m applications. He added that details of how the bag will work will be discussed on Thursday at a meeting chaired by the VP which included the current cabinet ministers, a representative of the African Development Bank (AfDB), among other sponsors.