How Buhari Is Supporting Growth Of Entertainment Industry-Osinbajo

Vice-President Yemi Osinbajo has said that Nigerian singers, Burnaboy and Wizkid, has taken the entertainment industry by storm
with their recent outings at the Grammy Awards, .

According to a statement on Sunday by vice president’s Senior Special Assistant on Media and Publicity, Laolu Akande, the Vice President spoke in a message delivered at the opening of a Lagos-based studio, Ogidi Studios, owned by the Temple Company.

He said, “On March 14, 2021, Burnaboy and Wizkid took the entertainment industry by storm winning the Grammy Awards and established themselves as amongst the best musicians in the world.

“Burnaboy won in the ‘Best Global Music Album’ category for the ‘Twice as Tall’ album and Wizkid; the real star boy, in the Best Music Video category for his feature in the song ‘Brown Skin Girl’,”

Osinbajo was quoted as saying that the present administration has in the past few years introduced several initiatives to harness the abundant potentials in the country’s entertainment industry.

He added, “Last year, the Federal Government handed over the control of the National Theatre to the Central Bank of Nigeria and the Bankers’ Committee. The Bankers’ Committee has committed to an investment of N25bn as initial funding for the development of the Nigeria Creative Centre at the National Theatre, Lagos.

“The sector will receive support from the Central Bank of Nigeria’s Creative Industry Funds Initiative, an initiative that gives financial support to the technology and creative sector at single-digit interest rates.

“The Bank of Industry in collaboration with the National Council for Arts and Culture also has a N300m loan package for the creative sector, the package provides the funds to the sector at single-digit interest rates with a tenor of four to five years.”

The Vice President, noted that the entertainment industry and the country are now positioned better, which will benefit the enter value chain.