Entertainment
How Buhari’s Administration Promotes Growth Of Entertainment Industry – Osinbajo
In recognition of the strategic importance of the entertainment and creative sector in growing the Nigerian economy, the Buhari administration has in the past few years introduced several initiatives to harness the abundant potential in the country, according to Vice President Yemi Osinbajo (SAN).
Professor Osinbajo stated this over the weekend in a message delivered at the opening of the Ogidi Studios, a Lagos based world class creative complex hosting recording film production, animation and writing studios owned by the Temple Company.
The Vice President stated that last year the federal government awarded the control of the National Theatre to the Central Bank of Nigeria (CBN) and Bankers Committee. The Bankers committee has committed an investment of N25 billion as initial funding for the development of the Nigerian creative centre at the National theatre Lagos. The centre will receive support from CBN’s creative industry funds initiative that gives financial support to the technical and creative sector at single digit interest rate.
The Bank of Industry in collaboration with the National Council for Arts and Culture also has a N300 million loan package for the creative sector, the package provides the funds to the sector at single digit interest rate with tenure of four to five years.
Speaking about the gains of consistent and deliberate effort by the Buhari Administration over the years, the vice president noted that the sector and the country are now better positioned to benefit from the entire value chain.
He said: “But perhaps more importantly with the Ogidi Studios, Nigeria now operates on the same level of sound and video technology with the major global players now the stars, not just the Nigerian stars, but from all over the world have a place in Lagos that is as good as any studio they have ever recorded in.
World class script writing, music recording, video making and editing can take place under one roof at the Ogidi Studios. The entire value chain in music and entertainment can now be local, so we are at the cusp of a revolution in entertainment, production, creative talent and services and a major economic opening for business in Nigeria.
Continuing, Prof. Osinbajo explained that the world knows that the smart money is already going after the trail. Last year, Netflix opened its first African office here in Lagos and is investing millions of dollars to buy and generate authentic African content in its platform.
“A couple of years earlier, the universal music group established itself firmly and there are many others waiting to make their bid for a bit of the action.” Assuring that with the quality of investments, the future is promising for the sector. He said with the private sector putting its best foot forward in the entertainment industry, the future is certainly looking very bright for the industry and we are all looking forward to the greater investments.
While commending the owners of the Ogidi Studios, for raising the stakes in entertainment industry, Osinbajo said local creative talents can now fulfil their dreams as world class script writing, music recording, video making and editing can take place under one roof at the Ogidi Studios.
Referencing the stories of Burna Boy and Wizkid, who took the entertainment industry by storm and winning the Grammy awards, Prof Osinbajo noted that the environment had been prepared for Nigeria to produce more creative talent across the value chain in the industry.
He said on the 14th of March 2021, the duo of Burna Boy and Wizkid established themselves as amongst the best musicians in the world, following their victory in the Grammys held in Los Angeles, USA.
Popular businessman and socialite, Pascal Okechukwu, aka Cubana Chief Priest, has said that his relationship with singer Davido is beyond money and gossip.
He stated this in a recent interview with BBC Igbo.
“Davido is my friend. He is my in-law; he married Chioma who is from Imo State where I hail from.
“So the relationship I have with Davido is beyond money and gossip,” he said.
DAILY POST reports that Chief Priest disclosed via his Instagram page that his outfit for the wedding of the singer, Davido and his wife, Chioma, in Lagos on Tuesday cost seven million Naira.
The socialite recently appreciated Davido for not “discarding” Chioma.
He stated that the DMW boss has made Imo State proud by choosing to marry from the state.
Nigerian singer Simisola Kosoko, popularly known as Simi, has lent her voice to the ongoing anti-tax hike protests in Kenya.
The Tide’s source reports that Kenyan youths are marching against tax hike in widespread demonstrations tagged ‘RejectFinanceBill2024.’
Five people were shot dead and dozens wounded after police clashed with protesters who stormed the parliament building in Nairobi on Tuesday, according to Amnesty Kenya.
Reacting via her X handle on Tuesday night, Simi declared her support for the demonstrators.
She stated that “it is both powerful and heartbreaking for a people to have to fight and die for freedoms and rights.”
The singer wrote, “I stand with the people of Kenya. It is both powerful and heartbreaking for a people to have to fight and die for freedoms and rights. Godspeed and Strength. [Hash tag] RejectFinanceBill2024.”
In a series of other posts, she wrote: “Wow. When you’ve had enough, the fight is almost inevitable.
“African leaders- have not you done enough?
“I can’t wait for the day Africa is not a weapon fashioned against Africans. All of this amazing Black power and human resource, but the majority are not likely to thrive unless they run.”
Famous Nigerian Afrobeat singer, Davido was spotted among other top artistes at Asake’s ‘Lungu Boy’ tour concert in Atlanta, Georgia.
Asake’s performance at his sold-out show at the 17,000-capacity State Farm Arena in Atlanta began on August 16, 2024, and is set to run for 10 days.
In a trending video on social media, Davido appeared backstage with American rapper Quavo to support Asake during the live performance.
Other musicians in attendance included Nigerian hitmaker Zlatan and American rapper Russ Millions.
The Tide’s source reports that Asake’s ‘Lungu Boy’ tour is set to cover six U.S. cities, where he will headline notable venues including Madison Square Garden in New York, the Toyota Center in Houston, and the State Farm Arena in Atlanta.
Asake’s tour comes just days after the release of his latest hit, ‘Lungu Boy,’ which features several superstars, including Wizkid, British rappers Central Cee and Stormzy, Travis Scott and Brazilian singer Ludmilla.
‘Lungu Boy’ set a new record for the biggest opening week on Spotify Nigeria, garnering 18.9 million streams in its opening week and breaking the previous record of 14.4 million streams held by Davido’s ‘Timeless.’
