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Creative Economy: FMITI Strengthens Funding Support For Entrepreneurs

BY CHIKA OKEKE, Abuja

The Federal Ministry of Industry, Trade and Investment (FMITI) is strengthening support for young entrepreneurs through funding and policies to expand Nigeria’s creative industry, while attracting investors to the country.

Permanent Secretary of FMITI, Dr Chris Isokpunwu, who stated this at the Creative Africa Nexus (CANEX) WKND2026, in Lagos, was optimistic that the event provided an opportunity to showcase Nigerian businesses, promote export-ready products and attract foreign investment.

The PS hinted that the government is prioritising non-oil exports, job creation and youth participation in the creative economy, just as he was satisfied with the level of preparedness and the participation of organisations from Nigeria and other countries.

Isokpunwu added: “The CANEX is strengthening support for young entrepreneurs through funding and policies to expand Nigeria’s creative industry as well as attracting investors to the country.”

He disclosed that the diversity of exhibitors and business interests demonstrated the potential of the exhibition to promote trade and investment, stating that many exhibitors had products ready for export.

Isokpunwu informed that CANEX would showcase Nigerian goods and services to the international market while exposing investors to available opportunities.

The ministry’s mandate includes expanding exports, creating jobs, supporting small and medium-scale enterprises and promoting industrialisation, even as the Federal Government is committed to attracting foreign investment and strengthening Nigeria’s non-oil export sector.

He hinted that efforts were underway to promote value addition to locally produced commodities before exporting them, adding that the agency has mapped out strategies to ensure that funds provided through partnerships reached their intended beneficiaries.

The PS assured that SMEDAN is working within an established framework, while the African Development Bank (AfDB) had safeguards, stating that the government’s Startup Act provided a framework for encouraging and supporting emerging businesses, particularly those driven by young entrepreneurs

Isokpunwu said that Nigerian youths were making significant contributions to the creative industry, including music, comedy, gastronomy and sports, citing the achievements of Nigerian musicians, comedians and culinary entrepreneurs.

He pointed out that the government support and funding opportunities would strengthen youth, noting that the support would also enhance participation and expand the industry’s contribution to economic growth.




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