A new initiative has been launched to bolster Nigeria’s creative industry, with a focus on film, music, fashion, and content creation. The program aims to provide funding, training, and international exposure to talents in these sectors. Organizers believe this will not only create jobs but also position Nigeria as a global hub for creative arts. Stakeholders in the industry have welcomed the initiative, calling it a game-changer for young creatives.
Punch Newspapers (MobilePunch) The Nigerian Economic Summit Group (NESG) has identified infrastructure deficits as a primary obstacle to the country’s economic growth. In a recent statement, the group noted that poor infrastructure limits productivity, discourages foreign and domestic investment, and hampers industrial development. Specific sectors such as transportation, power, and telecommunications were highlighted as areas requiring urgent attention. The NESG urged the government to prioritize public-private partnerships and policy reforms to bridge the infrastructure gap. No specific figures on economic losses were provided in the initial report.
Punch Newspapers (MobilePunch) The Central Bank of Nigeria (CBN) announced on August 22, 2025, that the country’s gross foreign exchange reserves have reached a four-year high of $41.05 billion. This milestone reflects a steady increase driven by improved oil revenues and diaspora remittances. CBN Governor, Olayemi Cardoso, stated during a press briefing in Abuja, 'This achievement is a testament to our prudent monetary policies, and we are targeting $100 billion in reserves by 2030.' The rise in reserves is expected to stabilize the naira, reduce import dependency, and boost investor confidence. Economists note that the current reserve level can cover over 10 months of imports, a significant improvement from the 6-month coverage recorded in 2021. The CBN also plans to leverage this growth to support small and medium enterprises through targeted forex interventions.