Governor Biodun Oyebanji of Ekiti State has taken a significant step towards fostering economic growth by disbursing N20 million to practitioners in the arts, culture, and creative economy sector.
The governor, speaking during the presentation of letters of award to beneficiaries through the Ekiti Arts Endowment Fund, reaffirmed his administration’s commitment to supporting local talents and businesses.
Representing Governor Oyebanji, the Head of Service, Sunday Komolafe, emphasized the importance of sustained support for creative entrepreneurs. He highlighted the administration’s vision of utilizing initiatives like the endowment fund to create job opportunities and enhance productivity within the state.
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Beneficiaries were encouraged to utilize the funds wisely towards their personal growth and business expansion. Governor Oyebanji stressed the importance of timely repayment, underlining that it would ensure continued access to funding for future projects.
Professor Rasaki Ojo-Bakare, the Commissioner for Arts, Culture, and Creative Economy, lauded the implementation of the endowment fund policy, noting Ekiti State’s pioneering role among Nigerian states. He highlighted the fund’s low-interest rate of seven percent, designed to facilitate the growth of creative enterprises and contribute to the preservation of Ekiti’s rich cultural heritage.
The allocation of funds marks a significant milestone in Ekiti State’s efforts to nurture and support its creative community. With the aim of stimulating economic growth and empowering local talents, Governor Oyebanji’s initiative holds promise for a vibrant and prosperous creative economy in the state.
