The announcement came during the two-day Creative Industry Financing Conference in Lagos, according to a report by Innovation Village.

Mohammed said 20 individuals, each contributing $50,000, are expected to make up the fund with five unnamed persons already volunteering and more investor expected to get on board.

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The Minister also said the venture fund would provide seed money for young and talented Nigerians looking to set up businesses in the creative sector.

Other government personalities present at this conference include Minister of Finance, Kemi Adeosun; Minister of State for Industry, Trade and Investment, Aisha Abubakar; and the Minister of Information and Culture from the Republic of Niger, Koubra Sani.

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