The Federal Government has announced plans to establish “Renewed Hope Creative Villages” in each state across Nigeria, aimed at boosting the creative industry and preserving historical sites.
Lagos State Governor Babajide Sanwo-Olu revealed the initiative on Thursday during a press briefing following the 147th National Economic Council (NEC) meeting, which was chaired by Vice President Kashim Shettima in Abuja.
Sanwo-Olu explained that the Ministry of Arts, Culture, Tourism, and Creative Economy had proposed the creation of these villages in historic locations, which would be transformed into creative hubs in collaboration with state governments. The project aims to enhance Nigeria’s creative industry while preserving important cultural and historical sites.
At the same meeting, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, provided updates on state finances, revealing that states’ total indebtedness to the Federal Government stands at N16.6 billion. He also shared details about various government accounts: the Excess Crude Account had $424 million as of December 10, the Stabilization Account held N33.3 billion, and the Natural Resources Account contained N23 billion.
In addition to discussions on creative industries and fiscal matters, the NEC meeting addressed the issue of state police. It was disclosed that most of the 36 state governors have endorsed the creation of state police, and the NEC plans to consider their submissions on this matter at its next meeting in January 2025.
