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...
S-West Youths Protest, Urge Tinubu to Support Local Refining Industry
ABUJA, Nigeria — The Coalition of Yoruba Students and Youth Movement on Tuesday staged a peaceful protest in Ibadan, urging President Bola Ahmed Tinubu to strengthen Nigeria’s local refining capacity, ensure fair crude allocation to Nigerian-owned refineries, and end fuel importation policies they say undermine the nation’s economic stability.
Youths Submit Position Paper, Seek Urgent Oil & Gas Reforms
Addressing journalists during the rally, the coalition’s National President, Comrade Benedict Adetunji, and Secretary, Comrade Busari Abdulraman, said a formal position paper has been presented to the Presidency calling for policy realignment that prioritizes domestic production, transparent crude supply to local refineries, and pricing frameworks that do not disadvantage Nigerian operators.
“The only path to genuine recovery lies in strengthening domestic production and reducing reliance on importation. No nation develops by outsourcing what it can produce locally,” the leaders said.
Dangote Refinery Cited as Private-Sector Catalyst
The group identified the Dangote Refinery as a flagship private investment capable of catalysing national industrial growth, provided the government sustains fair, competitive crude allocation and removes bottlenecks that skew advantages to foreign refineries. The youths argued that a stable domestic refining ecosystem would support job creation, petrochemicals, power, plastics, and allied industries.
Call to Protect Strategic Sectors from Economic Sabotage
Warning against actions by industry stakeholders that could disrupt refining operations, the coalition urged the Federal Government to shield local industries from anti-competitive practices and economic sabotage that threaten national progress.
“We must safeguard our strategic sectors from practices that threaten national progress,” the coalition added.
What the Youths Want—At a Glance
- Fair crude allocation to all domestic refineries at competitive rates.
- Policy reforms that prioritise local refining over import dependence.
- Transparent pricing free from biases toward foreign refineries.
- Protection against actions that disrupt refining operations and local industry growth.
According to the protesters, aligning policy with domestic capacity will reduce fuel import bills, stabilise energy prices, and accelerate inclusive growth for millions of young Nigerians through industrialisation.
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