MoU Between NCAC, BoI To Create 200,000 Jobs – Lai Mohammed - Paul Ukpabio's Blog


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Monday, 8 May 2017

MoU Between NCAC, BoI To Create 200,000 Jobs – Lai Mohammed

The Director General, National Council for Arts and Culture, Otunba

Olusegun Runsewe, presenting a Memorandum of Understanding between the

Council and the Bank of Industry to the Minister of Information and

Culture, Alhaji Lai Mohammed, in Abuja on Friday

The Minister of Information and Culture, Alhaji Lai Mohammed, has said the Memorandum of Understanding (MoU) between the National Council for Arts and Culture (NCAC) and the Bank of Industry (BoI), which makes available 300 million Naira loan for stakeholders in the Creative Industry, will create 200,000 jobs in the Sector.

The Minister said this in Abuja over the weekend, when the Director General of the Council, Otunba Olusegun Runsewe, presented to him the MoU, which was signed earlier last Friday.

"I have been reliably informed that top on the list of the benefits
that will accrue from this landmark MoU is that it will create over
200,000 jobs for the sector. This is epochal, and it is in line with
one of the cardinal programmes of this administration, which is job
creation and empowerment.

''The MoU will also act as a catalyst for the development of the
country's craft industries, create a financing window and make
available loanable funds to be accessed by all NCAC stakeholders, as
well as assist the stakeholders in capacity building," he said.

Alhaji Mohammed said the MoU will equally enhance the capacity of
producers of cultural products and services to work towards attaining
the standard of modern practice in the packaging of their cultural
products, to enable them compete favourably at the global markets and earn the nation's Artists a decent living.

The Minister commended Otunba Runsewe for putting together ''this
momentous event'' just a few days after assuming office as the NCAC DG, and also thanked the Acting MD of BoI, Mr Waheed Olagunju, for his support for the Creative Industry.

"As you may all be aware, one of the factors militating against the
promotion of the Nigerian creative industries has been lack of access
to funding for the Artists to develop their creative works as well as
weak access to international markets, due to poor packaging and
standard. I am therefore happy to say that with the signing of this
MoU, Nigerian Artists can heave a sigh of relief," he said.

In his remarks, Otunba Runsewe described the MOU as a milestone in the creative sector, being the first time in history that the sector will
access funds from a financial institution with a single digit interest

"Today, we have come to make a history-making presentation to the
Honourable Minister. Today happens to be a day that will create a
change and we are going to tell our story the way it should have been
told some few years ago," he said.

The NCAC DG acknowledged the leadership role of the Minister,
particularly in leveraging on the unique potential of the Creative
Industry to drive the diversification of the economy away from oil.

The Minister used the occasion to decorate some journalists with a
special pin with the inscription: "Our Culture, Our Pride", as part of
a conscious strategy to mobilise the media to promote the nation's
Creative Industry.

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