The FEC has granted approval for an initiative aimed at enhancing tourism infrastructure and fostering creative industries.

 

The Federal Government of Nigeria has made a noteworthy advancement by approving the formation of the Creative and Tourism Infrastructure Corporation (CTIC). This Special Purpose Vehicle (SPV) is designed to effectively tackle the infrastructure issues confronting the nation's creative industries, thereby promoting growth and innovation within this essential sector.

This initiative was introduced by Hannatu Musawa, the Minister of Art, Culture, Tourism, and the Creative Economy, during a Federal Executive Council meeting. It represents a proactive measure aimed at stimulating economic development, enhancing cultural preservation, and elevating Nigeria's cultural influence on the international stage.

The Creative and Tourism Infrastructure Corporation (CTIC) will function within a public-private partnership framework, strategically engaging both domestic and foreign investors to realize its ambitious goals.