FG secures $671m investment fund for creative economy, others

The Federal Government said it has secured a $671 million investment fund for the creative and digital economic sectors.The Special Assistant to the President (Office of the Vice President) on Digital and Creative Economy, Fegho Umunubo, disclosed this during a Digital and Creative Economy stakeholders’ roundtable discussion in Calabar, Cross River State, at the weekend.

Umunubo explained that the investment is to completely transition the Nigerian economy from the white collar job. Umunubo, who said that Cross River State will benefit from the fund, also noted: “Every state will benefit from the $671 million investment fund. I’m hoping that Cross River State will also benefit from the fund in terms of access to finance, infrastructure and training,” he stressed.

He said that the fund would ensure the industry is strengthened at the state level to eradicate the idea of japa (relocating abroad). Umunubo said: “There was a time when people moved from Calabar, for instance, to Lagos; and now they are moving abroad because they don’t have the necessary working tools and market.

However, we want you to stay here and improve the economy instead of japa.

“The last time I was here, I mentioned to the governor that it won’t be my last in Calabar. Today, I am here and it won’t be my last as well. I’ll try my best in helping the state grow in the digital and creative economy,” Umunubo said.