The Federal Government has unveiled plans to create “Renewed Hope Creative Villages” in all 36 states, aiming to enhance Nigeria’s creative industry and preserve historic sites.
Governor Babajide Sanwo-Olu of Lagos State disclosed the plans during a press briefing following the 147th National Economic Council (NEC) meeting, chaired by Vice President Kashim Shettima in Abuja.
Key Features
Collaboration with States: The Federal Ministry of Arts, Culture, Tourism, and Creative Economy will work with state governments to identify historic locations.
Purpose: Transform historic sites into creative hubs, serving as one-stop centers for the creative industry.
Job Creation: The initiative is expected to generate hundreds of thousands of jobs by leveraging the potential of rural historic sites and monuments.
Sanwo-Olu emphasized the untapped opportunities in the creative industry, particularly in rural areas, stating,
“The ministry aims to prioritize this initiative and collaborate with states to identify thriving sites that can generate jobs and enhance the creative industry.”
NEC Discussions on Fiscal Matters
States’ Indebtedness
Minister of Finance, Wale Edun, revealed that states owe the Federal Government N16.6 billion.
Government Financial Accounts
Excess Crude Account: $424 million (as of December 10, 2024).
Stabilization Account: ₦33.3 billion.
Natural Resources Account: ₦23 billion.
States’ Surplus and Deficit
States’ surplus with the Federal Government: ₦363.4 billion.
States’ deficit: ₦16.6 billion.
The NEC disclosed that most state governors support the creation of state police to enhance security. Submissions on this proposal will be reviewed during the next NEC meeting in January 2025.
The “Renewed Hope Creative Villages” initiative reflects the Federal Government’s commitment to:
Promoting economic diversification through the creative sector.
Preserving Nigeria’s rich cultural and historic heritage.
Addressing unemployment by fostering job creation in rural areas.
This development, alongside discussions on fiscal matters and state policing, signals a proactive approach to addressing economic and security challenges in Nigeria.
