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...
Environment
Nigeria Imposes Nationwide Wood Export Ban to Protect Environment
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ABUJA, NIGERIA – The Federal Government of Nigeria has announced an immediate nationwide ban on the export of wood and allied products as part of a major environmental protection initiative. The directive, issued through a Presidential Executive Order, aims to curb illegal logging, halt deforestation, and strengthen the country’s response to climate change. 0
- Executive Order: Signed by President Bola Ahmed Tinubu and titled the “Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025,” the ban was unveiled by Minister of Environment Balarabe Abbas Lawal during the 18th meeting of the National Council on Environment in Katsina State. 1
- Immediate Action: All existing licences and permits for the extraction and export of wood and related products have been revoked and declared invalid, with no exemptions granted. 2
- Environmental Rationale: Officials noted that Nigeria’s forests are vital for clean air and water, biodiversity conservation, livelihoods, and climate mitigation, and that continued wood exports were undermining these essential benefits. 3
The executive order draws authority from Sections 17(2) and 20 of the Nigerian Constitution, which obligate the state to protect the environment and manage natural resources sustainably. Security agencies, multiple ministries, and regulatory bodies are being mobilised to enforce the ban nationwide and crack down on illegal logging activities. 4
Environmental advocates have welcomed the move as a decisive policy shift, highlighting the urgent need to preserve forest cover amid decades of rapid deforestation driven by commercial logging, agriculture expansion, and illegal trade. The Federal Government has stressed that the ban forms part of a broader commitment to strengthen Nigeria’s environmental resilience for future generations. 5
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