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NIGERIA: National Government To Create Venture Capital For Creative Industry

The Nigerian government has announced it will establish a US$ 1 million venture capital fund to drive and boost the nation's Creative Industry including music, films, and others.

Making the announcement at an industry event on Creative Industry Financing in Lagos, Nigeria's minister of Information and Culture, Alhaji Lai Mohammed remarked that the country desperately needed such a fund so it can continue to lead the continent in this sector.

He confirmed that the plan is already afoot to raise the target fund of US$ 1 Million for local investors in the country.

An adequately funded and directed Creative Industry can trigger and sustain more than 1.5million jobs and boost the nation's economy, hence the drive and initiative by the government.

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