In an attempt to advance creative industry in the state and the nation at large, the Ekiti Ekiti State Government has disbursed over ₦20 million to more than 40 beneficiaries creative artistes in the state.
The support was the second batch of the Ekiti State Art Endowment Fund, with grants and soft loans ranging from ₦200,000 to ₦1 million for the development of artistic and cultural activities across the state.
Presentation of cheque was carried out on Monday by the Ministry of Arts, Culture and Creative Economy, at the Cultural Centre, Ado-Ekiti with beneficiaries cutting across different groups of creative associations, companies and individuals.
The state governor Biodun Oyebanji was represented at the presentation by the Commissioner for Arts, Culture and Creative Economy, Professor Rasaki Ojo Bakare.
The Commissioner who noted that the beneficiaries were investigated and proved to be running businesses in creative industry, described the initiative as” a major milestone in the development of the arts and culture industry”, added that “it reflected the commitment of Governor Biodun Abayomi Oyebanji to improving the welfare of practitioners.”
Bakare further stated that: “the Art Endowment Fund was introduced to strengthen the creative economy and support practitioners through financial assistance.
“The initiative was the federal government policy put in place since 1989, because of his love for the sector , governor Oyebanji decided to first implement the initiative in 2024 and continued in 2026.It would become an annual revolving programme to ensure consistent support for the sector”.
According to the commissioner, “the sustainability of the programme depends on beneficiaries fulfilling their repayment obligations, .
He stated that, “recipients would enjoy a six-month grace period, a seven per cent interest rate and a 24-month repayment plan”, adding that those who repay within the stipulated period could qualify for larger support in future.
He commended Governor Oyebanji for what he described as “a clear demonstration of love and commitment to the arts and culture sector”, urging beneficiaries and stakeholders to continue supporting the administration for sustaining initiatives capable of transforming the creative industry in Ekiti State.
Traditional musical associations and Credshill for Arts and Creative devey received grants of ₦1 million each while several companies and individual beneficiaries benefited ffinancial supports in different categories to expand their creative activities.
Reacting to the gesture, a beneficiary,Chief Dele Koko of the Traditional Musical Association and Mr Apadidun Gbenga praised the initiative, describing it “as timely support for practitioners in the sector”
Dignitaries present at the event included the Permanent Secretary of the Ministry Prince Banjo Adelusi, Mrs Tolulope, Director Joel Olabode, Mr Faskin Bolaji and the Director of Administration and Supply, Mr Ogunrinde, as beneficiaries were advised to make judicious use of the funds for the growth of the creative economy.
