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FG Disburses 2nd Batch Of ₦5 Billion Creative Fund To Nollywood

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FG disburses 2nd batch of ₦5b creative fund to Nollywood | Fab.ng

The Nigerian government just gave another round of creative fund to support the country’s creative industries. This money comes from a special fund called the Creative Fund, which was set up in December 2023 with the help of Providus Bank.

Fegho-x Umunubo, who works for the Vice President’s office and focuses on digital and creative businesses, announced the news on Instagram this week. This is the second batch of money to be given out from the ₦5 billion (around $12 million) total fund.

“Update: ₦5 Billion Creative Fund Second Batch Launch. Under the renewed Hope Agenda of Mr. President, Bola Ahmed Tinubu (GCFR), we successfully launched the second batch of the N5Billion Creative Fund in partnership with Providus Bank at Eko Hotels and Suites last week Friday,” he said.

Following the successful disbursement of ₦1.5 billion to four actors/producers for their movie projects, we are excited to support even more creative projects. If you know someone looking for funding for their creative project, share this email address: [email protected],” he added.

 

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The financial world hasn’t always paid much attention to Nigeria’s creative industries, like filmmaking. But things are changing. Afrobeats music has exploded in popularity worldwide. Streaming services like Netflix and Prime Video are putting big money into creating new Nigerian content.

This new interest is a double-edged sword.

On the one hand, it means more money is flowing into Nigerian creativity. This is especially good news for Nollywood, Nigeria’s giant film industry. The Creative Fund is a great example – it can help filmmakers and actors make even better movies.

But there’s a flip side. Some filmmakers might feel pressure to make movies that appeal to a global audience instead of focusing on stories Nigerians themselves want to see. The hope is that the Creative Fund can help filmmakers create content for Nigerians, while still attracting attention from around the world. If managed well, this fund could be a game-changer for Nollywood!

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MUSIC

Olamide’s New EP, ‘Ikigai’ Sets Record For Opening Day Streams On Spotify Nigeria

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Olamide's 'Ikigai' Sets Record For Opening Day Streams On Spotify Nigeria | Fab.ng

Nigerian rap legend Olamide surprised fans on June 27th, 2024 with a new 7-track EP titled “Ikigai.” The project delves into “reason for being” or “life’s purpose.” This surprise release has already sent shockwaves through the Afrobeats scene.

“Ikigai” shattered the record for most opening day streams on Spotify Nigeria in 2024. It racked up a whopping 1.86 million streams in its first 24 hours. This dethrones the previous record holder, “Shakespopi” by Shallipopi, which garnered 1.59 million streams.

These numbers solidify Olamide’s position as a dominant force in African music. He holds the title for the most streamed African rapper on Spotify and also boasts the most streamed album by a Nigerian rapper on the platform with his 2020 project “Carpe Diem.”

“Ikigai” isn’t just about Olamide flexing his solo muscles.

The EP features some exciting collaborations, showcasing the depth of talent within the YBNL label. Rising stars Fireboy and Asake light up track 3 “Uptown Disco” with their infectious energy, while the closing track “Synchro System” offers a dose of nostalgia for longtime fans. This song reunites Olamide with some former YBNL associates – Pheelz, Young Jonn, and Lil Kesh – bringing together a group of artists who have helped shape the Afrobeats sound.

This surprise release marks Olamide’s 10th solo project and 15th overall, further solidifying his place as a Nigerian music powerhouse since 1999. “Ikigai” also surpasses his own record for biggest first-day numbers, previously held by his 2023 album “Unruly” with 1.81 million streams.

With “Ikigai,” Olamide lands at number 5 on the all-time list of opening day streams on Spotify Nigeria, following giants like Davido (“Timeless”), Burna Boy (“I Told Them”), Asake (“Work Of Art”), and Wizkid (“S2” EP).

Furthermore, Olamide wasted no time in dropping the music video for the track “Metaverse,” keeping fans visually engaged with the new project. He also hosted a virtual listening event on TikTok Live with content creator Peller, a savvy move to connect with fans on a popular social media platform and create a more interactive experience.

Olamide’s “Ikigai” is a powerful reminder of his enduring influence in the Afrobeats scene. The record-breaking streams and collaborations showcase his ability to evolve while staying true to his roots.

With a surprise EP, a hot music video, and a savvy social media push, Olamide is proving that he’s not going anywhere and remains a major force to be reckoned with in Nigerian music.

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NEWS

NFVCB Warns Filmmakers, Skit Makers Against Production Of Same-Sex Relations Contents

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NFVCB warns against same-sex, pornographic contents | Fab.ng

The Nigerian agency that controls what movies and videos can be shown in the country issued a warning on Wednesday. The agency, the National Film and Video Censors Board (NFVCB) gave a clear message. They said filmmakers and skit makers must be careful about what they produce and put online.

The NFVCB is especially concerned about content that goes against Nigerian law.

One specific example they mentioned is content that portrays same-sex relationships, whether directly or indirectly. This type of content, according to the NFVCB, is a violation of the law.

Their message was posted on Instagram on June 26th, 2024. The NFVCB specifically targets content that appears on social media platforms like Instagram, TikTok, Facebook, and Twitter.

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ENTERTAINMENT

Don Jazzy Opens Up On Why He Hasn’t Remarried

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Don Jazzy Opens Up On Why He Hasn't Remarried | Fab.ng

Nigerian music icon Don Jazzy gave a glimpse into his personal life during a recent social media session with fans. On Thursday, June 26th, Don Jazzy treated fans to an interactive session. One question from a fan particularly sparked a lot of curiosity: why aren’t you married?

Don Jazzy delivered a thoughtful response.

He revealed that he’s currently prioritizing self-improvement and isn’t ready for marriage again yet. This answer resonated with many fans who admire Don Jazzy’s dedication to his craft and his commitment to personal growth.

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