WITTY GLOBAL BLOGS | THURSDAY FLAGSHIP EDITION Africa's $2 Billion Creative Economy Financing Push: What Nigerian Filmmakers, Musicians and Digital Creators Need to Know By Itoro Uwah | Thursday, November 12, 2026 CREATIVE ECONOMY | BUSINESS | TECHNOLOGY | INVESTMENT LAGOS, NIGERIA — Africa's creative economy is attracting renewed attention from development financiers and policymakers, following the Creative Africa Nexus (CANEX) WKND 2026 gathering in Lagos from November 5 to 8. Organised by the African Export-Import Bank (Afreximbank) and hosted by Nigeria, the gathering brought together creative entrepreneurs, investors, policymakers and cultural-industry professionals to explore financing, intellectual property, technology and market access. Afreximbank's CANEX financing ambition has expanded to $2 billion, reflecting a growing institutional effort to support African cultural and creative enterprises. However, the figure must be understood correctly...
The Abuja Electricity Distribution Company (AEDC) will increase tariffs in areas under its network from July 1.
AEDC is one of the 11 power distribution companies that cover the Federal Capital Territory (FCT), Niger, Kogi, and Nassarawa States. The company recently announced an increase in electricity tariff due to the fluctuation in the naira exchange rate in the money market. The new tax will take effect from July 1, 2023. The exchange rate is expected to be revised to approximately N750/$1, which will impact the tariffs associated with electricity consumption. Under the MYTO 2022 guidelines, customers in bands B and C, with supply hours ranging from 12 to 16 per day, will experience a new base tariff of N100 per kWh. Bands A (20 hours and above) and B (16 to 20 hours) will share relatively higher taxes. The Nigeria Labour Congress (NLC) had warned the DisCoS to drop the planned tariff increase due to the country's current realities. For customers with a prepaid meter, purchasing bulk energy units before the end of this month is advisable to take advantage of the current rates and make savings before the new tariffs come into effect.
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