Business
CBN, Bank of Industry Partner with CEAN to stabilize Nigeria’s creative sector Post-Covid
In a bold and strategic move to rescue Nigeria’s creative industries from the lingering economic shocks of the COVID-19 pandemic, the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) have officially partnered with the Creative Entrepreneurs Association of Nigeria (CEAN) to design and implement a nationwide intervention targeting vulnerable creative businesses.
The collaboration, launched in mid-2022, marks a milestone in the recognition of Nigeria’s creative economy as a critical pillar of national development—and affirms CEAN’s position as a trusted stakeholder in industry policy and infrastructure development.
Responding to a Sector in Crisis
The partnership was galvanized by CEAN’s early post-pandemic whitepaper, “Creating Through Crisis: The Future of Nigerian Creativity Post-COVID,” which presented compelling data and policy recommendations that influenced federal strategy. While other sectors received initial support under the government’s economic recovery plans, it was CEAN’s persistent advocacy and detailed sector mapping that brought national attention to the creative industries’ urgent needs.
“From day one of the pandemic, we understood that Nigeria’s cultural workforce—millions strong—was at risk of collapse,” said Adebowale Ewedemi, CEAN founding executive and veteran media entrepreneur. “We didn’t just lobby for change; we brought the tools, the structure, and the roadmap.”
From Blueprint to Implementation
The result was a landmark intervention program backed by BOI and regulated by CBN, with CEAN serving as the official implementation partner. The program delivers targeted support to struggling sub-sectors including independent film, performance art, fashion, radio, music, design, and digital content production.
Highlights of the program include:
• Access to low-interest working capital for creative entrepreneurs
• Training grants and accelerator programs for skill development
• Support for studio and performance infrastructure
• Technical assistance for digital transformation and business retooling
CEAN’s nationwide rollout has seen the training of over 2,000 creative entrepreneurs, advisory support to more than 500 micro-businesses, and the establishment of regional Creative Recovery Hubs in Lagos, Abuja, and Enugu.
Sustained Leadership in Nigeria’s Creative Economy
This intervention is only the latest in CEAN’s long record of national impact. During the peak of the COVID-19 lockdowns, the association served as a frontline support system—offering emergency relief, transitioning training programs online, and shaping portions of the Federal Government’s Survival Fund.
For more than a decade, CEAN has played a vital role in connecting Nigeria’s informal creative workforce to structured policy, funding, and formal economic opportunities. Through this work, the association—under Ewedemi’s leadership—has consistently introduced original models, innovative frameworks, and institutional partnerships that define sustainable creative sector governance in Africa.
Architects of a New Creative Economy
This partnership with CBN and BOI reflects a broader understanding that Nigeria’s future is tied to the creative ingenuity of its people—and that long-term development requires strategic institutions with deep insight, trust, and capacity.
“We’re proud to move beyond advocacy into implementation,” said Ewedemi. “This is not a moment—it’s a movement. We are helping to reshape the creative industry into a nationally recognized economic force.”
As the creative sector continues to recover and rebuild, CEAN remains committed to ensuring that no artist, content creator, or cultural innovator is left behind.
About CEAN
The Creative Entrepreneurs Association of Nigeria (CEAN) is a national platform committed to advancing the business of creativity through advocacy, education, access to finance, and sustainable ecosystem development. CEAN represents creative professionals across music, media, fashion, film, design, performance, literature, and emerging creative technologies.
About Adebowale Ewedemi
Adebowale Ewedemi is a leading media and cultural entrepreneur with over 20 years of experience in broadcasting, creative industry leadership, and innovation policy. He is the founder of multiple FM radio stations in Nigeria and serves as Executive Director of CEAN, where he has led numerous national and international creative inte
The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird, the former head of Oman’s Duqm Refinery, as its new Chief Executive Officer.
A report by S&P global on Friday said, Bird heads the refinery’s petroleum and petrochemicals division in a strategic move to overcome production challenges and advance its next wave of expansion.
Effective from July 2025, the former Shell head of operations at its Balau Pokom refinery stepped in as CEO of the Dangote Group’s fuels and petrochemicals business, which commissioned the world’s largest single-train refinery last year.
The CEO participated at the just concluded Dangote Leadership Development Program Graduation Ceremony.
Business
Trump Imposes 15% tariff on Nigerian Imports
Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.
US President Donald Trump has approved a 15 percent import tariff on Nigeria and dozens of other countries.
The White House announced the implementation of the new reciprocal tariff rates on Thursday.
In April, Trump imposed a 14% tariff on Nigerian imports, citing the need for fairer trade terms.
That move was followed by a 90 – day grace period to allow time for bilateral trade negotiations, pushing the final decision deadline to August 1.
However, the majority of talks failed to result in new trade agreements.
As a result, the new tariff rates are now being implemented, with Nigeria among dozens of countries facing increased duties under the revised plan.
African countries, including Nigeria, were unable to secure individual trade deals with the United States despite urgent efforts from both sides.
During the negotiation window, Trump also reintroduced travel restrictions targeting several African nations. Though Nigeria was initially exempt, it was later added to the list as the policy evolved.
Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.
Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.
10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.
More severe penalties include 25–41% tariffs for countries like India, South Africa, Iraq, and Syria.
Switzerland faces a steep 39% duty, while Laos and Myanmar are hit with 40%.Syria tops the list at 41%.
Meanwhile, negotiations are still ongoing with China, Washington’s main trade rival.
Canada is facing a 35% tariff, while Mexico was hit with a trio of levies, including a 50% duty on metals. Brazil, previously under a 10% tariff, was slapped with an additional 40% charge on Thursday, bringing its total to 50%.
Business
EU accuses online giant Temu of selling ‘illegal’ products
EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.
The European Union accused Chinese-founded online shopping giant Temu on Monday of breaking the bloc’s digital rules by not “properly” assessing the risks of illegal products.
AFP reports that TEMU, wildly popular in the European Union despite only having entered the continent’s market in 2023, Temu has 93.7 million average monthly active users in the 27- country bloc.
EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.
Evidence showed that there is a high risk for consumers in the EU to encounter illegal products on the platform,” the European Commission said in its preliminary finding.
It pointed to a mystery shopping exercise that found consumers were “very likely to find non-compliant products among the offer, such as baby toys and small electronics.”
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