Mon. May 25th, 2026

ALMAJIRI

News Learning & Get Jobs

nn Tinubu

Tinubu Govt Unveils Loan Scheme For Nigeria’s Creative Industries, Entrepreneurs

Byadmin

May 5, 2025
Spread the love

The Federal Ministry of Art, Culture, Tourism, and Creative Economy has unveiled the Creative Economy Development Fund (CEDF), a loan initiative designed to support creatives and entrepreneurs nationwide.
According to a statement released on Monday by Nneka Anibueze, the Special Adviser to Minister Hannatu Musawa, the fund is now open to applications from individuals, businesses, and organisations operating within the cultural and creative industries.
“The CEDF is a bold step towards realizing President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at fostering job creation, economic diversification, and enhancing Nigeria’s global cultural influence,” the statement read.
Highlighting the transformative potential of the initiative, Musawa described the fund as a purposeful investment aimed at boosting Nigeria’s creative capabilities on a global scale.
“This is not just a financial intervention. It is a call to action for creatives, entrepreneurs, and industry enablers to scale their dreams and contribute to a thriving, inclusive creative economy,” the Minister said.
CEDF will offer various financial tools — including loans, equity funding, and grants — to help creative businesses grow, innovate, and access new markets. The goal is to enable them to turn intellectual property into valuable assets, including film rights, music, digital content, and more.
The initiative will support sectors such as film, fashion, publishing, music, cultural tourism, gaming, and the arts. Funding options include affordable credit, equity investments in fast-growing creative businesses, and grants for impactful cultural ventures.
As outlined in the statement, the application process will unfold in two phases: “The application process will be rolled out in phases, with the first call for proposals open till May 30, 2025, prioritizing mature projects seeking over $100,000. The second phase will open on August 4, 2025, focusing on Micro Small and Medium Enterprises MSMEs and Small and Medium Enterprises SMEs requesting under $100,000.
“Application review, project onboarding, incubation, and acceleration for Phase One will take place from June to December 2025, with the disbursement of funds starting on January 1, 2026. For Phase Two, disbursements will start on April 1, 2026.
“The fund is open to individuals, businesses, and institutions operating across the creative and cultural economy, including writers, directors, artists, fashion designers, gaming studios, cultural tourism providers, training institutions, promoters, legal consultants, media agencies, digital platforms, and logistics companies.
“Applications will be assessed by independent professionals with oversight from a private sector investment committee. The Creative Economy Development Fund is structured as an independent, professionally managed investment fund, with the Ministry of Finance Incorporated serving as the anchor shareholder. Interested investors and development partners are encouraged to reach out regarding co-investment opportunities or participation in specific sub-funds.”
The post Tinubu Govt Unveils Loan Scheme For Nigeria’s Creative Industries, Entrepreneurs appeared first on Naija News.

By admin

Related Post

nn

‘Senator Akpabio Treated Me As If I Was His Servant’ – Natasha

Sep 24, 2025 admin
nn

Security Agents Fire Tear-Gas At Senator Natasha’s Supporters At NASS Gate [Photos]

Sep 24, 2025 admin
nn

Brighton Hail Super Falcons’ Chiamaka Nnadozie After Historic Ballon d’Or Feat

Sep 24, 2025 admin

You missed

hl

Future Leaders Fellowship 2026: A Transformative Opportunity for Africa’s Emerging Air Quality Researchers ($1,800 Grant )

May 25, 2026 9jabook
hl

Officer, Country HR and Admin at International Medical Corps

May 25, 2026 9jabook
hl

Manager, Core Group Partners Project (CGPP) – Health at International Medical Corps

May 25, 2026 9jabook
swordpress

From Tramadol to Canadian to Exol-5 The New Drug Destroying Nigerian Youths An Investigative Article .From Tramadol to Canadian to Exol-5: The New Drug Destroying Nigerian Youths An Investigative Report on the Shifting Landscape of Substance Abuse in Nigeria Nigeria faces a severe and evolving drug crisis, particularly among its youth. What began with the widespread abuse of Tramadol has progressed through mixtures like “Canadian” to newer pharmaceutical diversions such as Exol-5. This shift reflects deeper issues: easy access to prescription drugs, weak regulation, socioeconomic pressures, and aggressive street-level marketing. NDLEA operations and health studies reveal a public health emergency that threatens an entire generation. Phase 1: The Tramadol Epidemic (2010s–Early 2020s) Tramadol, a synthetic opioid prescribed for moderate to severe pain, became Nigeria’s most notorious street drug. Cheap, potent, and widely smuggled (often from India and other Asian countries), it offered users energy, euphoria, and pain relief — appealing to commercial drivers, laborers, students, and young men seeking confidence or stamina. Scale of the Problem: Millions of tablets seized annually by NDLEA. High prevalence among young males aged 15–35. Linked to increased crime, sexual violence, organ damage (kidney failure, seizures), and mental health breakdowns. Contributed to broader opioid misuse alongside codeine cough syrups. Government responses included tighter import controls and public awareness campaigns, but these only displaced demand to other substances rather than eliminating it. Phase 2: The Rise of “Canadian” (Mid-2020s) “Canadian” or “Canadian Loud” emerged as a popular code for high-grade cannabis (often indica-dominant strains) or cannabis mixed with other synthetics. It gained traction as users sought alternatives or combinations to Tramadol’s effects. This phase marked a move toward imported or locally cultivated premium weed, sometimes laced with stronger chemicals. Youths in urban centers like Lagos, Kano, Jos, and Onitsha embraced it for its perceived “cleaner” high compared to opioids. However, it fueled polydrug use — combining cannabis with opioids, sedatives, or alcohol — amplifying health risks. Phase 3: Exol-5 – The Current Threat (2024–2026) Exol-5 (Benzhexol Hydrochloride / Trihexyphenidyl 5mg), originally a prescription medication for Parkinson’s disease and drug-induced movement disorders, has become the latest pharmaceutical being heavily abused. Why Exol-5? Euphoric Effects: Users report intense euphoria, hallucinations, and a sense of detachment — making it attractive as a cheap “upper” or escape. Accessibility: Sold over-the-counter or on the black market despite being a controlled prescription drug. NDLEA has seized millions of pills in single operations (e.g., 3.1 million pills in Kano in late 2024, and over 5.6 million combined with Tramadol in other busts). Street Names: Exol, Artane, Benzhexol, “Farin Mallam” (in Northern Nigeria). Demographics: Prevalent among youths, laborers, and even psychiatric patients who divert prescriptions. Studies show abuse rates as high as 25% among certain outpatient groups. Health Consequences: Anticholinergic toxicity: Confusion, dry mouth, blurred vision, urinary retention, constipation, and in high doses — delirium, psychosis, seizures, and heart issues. Long-term: Cognitive impairment, addiction, exacerbated mental health disorders. Often mixed with Tramadol, codeine, or cannabis, creating dangerous synergies. In cities like Jos, Exol-5 sits alongside diazepam, Rohypnol, and Tramadol on street markets, easily available to teenagers and young adults. Why This Evolution Continues Supply-Side Failures: Porous borders, corrupt officials, and overproduction of pharmaceuticals enable diversion. Demand Drivers: Unemployment, poverty, peer pressure, trauma, and the pursuit of performance enhancement (e.g., for “hustle” culture). Weak Regulation: Many pharmacies sell restricted drugs without prescriptions. Online and street vendors fill gaps. Displacement Effect: Cracking down on one substance (Tramadol/codeine) pushes users and dealers toward the next available option. NDLEA reports ongoing large seizures, but the problem persists due to high profitability and low risk for mid-level distributors. Broader Impacts on Nigerian Youths Education: Increased dropout rates and poor academic performance. Mental Health: Rising cases of psychosis and depression. Economy: Lost productivity among the working-age population. Crime and Violence: Drug-fueled robberies, cultism, and family breakdowns. Public Health System Strain: Overburdened hospitals treating overdoses and chronic complications. Young people aged 15–39 remain the hardest hit, with national surveys showing drug use prevalence significantly above global averages. What Must Be Done Stronger Enforcement: Consistent prosecution of corrupt enablers and large-scale traffickers. Regulation: Crackdown on rogue pharmacies and better tracking of prescription drugs. Prevention & Rehabilitation: School programs, community outreach, and expanded treatment centers (currently woefully inadequate). Economic Alternatives: Address root causes like youth unemployment. Public Awareness: Honest campaigns highlighting real dangers of “Exol-5” and similar drugs. Conclusion From Tramadol’s opioid grip to “Canadian” cannabis culture and now Exol-5’s anticholinergic highs, Nigeria’s drug crisis is mutating faster than responses can contain it. Exol-5 represents the dangerous new frontier — a legitimate medicine turned youth destroyer due to misuse and greed. Without urgent, multi-layered intervention — combining supply disruption, demand reduction, and socioeconomic support — an entire generation risks being lost to addiction. The time for half-measures is over. Nigeria’s future depends on winning this fight.

May 25, 2026 abi