NEC Directs States to Fund N200m Cultural Tourism Project

During the 157th meeting of the Nigerian Economic Council (NEC) held virtually on Thursday, chaired by Vice President Kashim Shettima, a resolution was passed directing all 36 state governors and the Federal Capital Territory to contribute N200 million each towards the "Renew Hope Cultural Project." This initiative aims to create Nigeria's first unified national cultural tourism calendar, referred to as "Naija Season," which will aggregate festivals and cultural events to attract creative economy activities. The project focuses on preserving and restoring historical sites and establishing a "Renew Hope Creative Cultural Village" to promote Nigerian cultural tourism assets.

The council anticipates that this project will have a significant economic impact, potentially creating one million jobs by 2030 and increasing diaspora inflow. The total expected contribution from the states is N7.4 billion.

The NEC also discussed the need for robust engagement with sub-national governments to ensure the project's successful implementation.