From John Lewis, Ado Ekiti
The Ekiti State Government has presented ₦20 million awards to people from the creative sector to expand their businesses and make an impact in their private lives.
Presenting the letters of award to the beneficiaries of the 2024 edition of Arts Endowment Fund yesterday, the state governor, Mr Biodun Oyebanji said the fund was a watershed in the efforts of his administration to ensure the shared prosperity for the creative sector in Ekiti state.
Oyebanji noted that the state was the first in the country to have implemented the law on Endowment Fund for the creative sector, which according to him, was enacted in 1989 during General Ibrahim Babangida regime.
“The presentation of the award to beneficiaries of Ekiti Arts endowment fund 2024 is a watershed in the efforts of our administration to ensure the shared prosperity for the creative sector in our state.
“We are not unaware that the law has been in existence for decades. As parts of our efforts to ensure that our people are self dependent. We have shown the political will to be the first in the Federation to implement the law.
“It is one of the ways to sustain the economic milestone of this administration. We believe that everybody in the state should be productively engaged,” he said.
In his welcome remarks, the Commissioner for Arts, Culture and Creative Economy, Professor Rasaki Ojo Bakare said that the Endowment Fund was designed to help those the creative industries built their careers.
“What was given out is ₦20 million. There will be more; this is just the take off. Individuals got N250, 000 while the organizations such PMAN each got N2 million. We expect the loan to be repaid in 18 months.
“The idea is to impact the creative sector. We have so many creative people who make things happen but once they don’t have that little assistance, they just sit at home and do nothing.
“With little assistance like this, you will be amazed with what they can do. This is expected to spark growth and development in the creative sector, mind you, the economy of the state will also be positively affected.
He therefore encourage the beneficiaries to spend the money wisely, saying “It is not a share or palliative, this is a loan. Don’t think you can collect it and run away.”
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