Yinka Ade-Aluko, Founder of Cinema234, says President Bola Tinubu’s Renewed Hope Agenda initiatives will enhance job creation, youth engagement and empowerment in the creative industry.
Ade-Aluko, who is also Chief Executive Officer (CEO) of Doodle -Film Hub, who said this call in a statement in Abuja on Tuesday, added that the initiatives had greater impact in the creative sector.
“The ‘Renewed Hope Agenda’ initiatives present a significant opportunity for job creation, youth engagement and empowerment, potentially fostering growth and development in the entertainment industry with substantial economic benefits.”
According to him, the initiatives are repetition of familiar patterns that have hindered the achievement of such desired outcomes.
“The film industry serves as a powerful tool for government messaging and has long been overlooked by Nigerian authorities.
“If effectively harnessed, it can rejuvenate the Renewed Hope initiative of the current administration.
“Countries around the world leverage their film industries to shape public sentiment and to project their national agenda and successes internationally.
“From the United States to China, Japan, India, and across Europe, film is a vital instrument for governments aimed at portraying their visions for prosperity and progress,” he said.
Reflecting on creative funding and the path forward, Ade-Aluko recalled that the N200 billion NollyFund launched during President Jonathan’s administration, championed by then Coordinating Minister of the Economy, Mrs Ngozi Okonjo-Iweala and managed by the Bank of Industry.
He said it was discovered that NollyFund was fully operational and it offered collateral-free funding.
He said an entertainment desk was established at the Bank of Industry to assess project proposals, supported by a dedicated committee for project approvals.
“In my observations over the past few years, I have learned that the few powerful and established creatives who accessed funding did not fulfill their repayment obligations.
“This reality prompts the question why does this happening and the answer is simply because loans meant for creative sectors’ development are not channel to the right persons and not put on the right projects,” he said.
Ade-Aluko further said that for ‘Renewed Hope Agenda’ to inspire change in the industry and entertainment at large, it must focus on empowering those who could invigorate the hopes of Nigerian youths by investing in start-up-like ideas and projects that center on young people.
“The individuals who can make a significant difference are often not the well-established figures in the industry, rather the relatively unknown underdogs with raw, ambitious ideas that can drive substantial change.
“These innovators are key to building the systems, economy, and future we all envision. Unfortunately, the current landscape is being shaped by an alarmingly bureaucratic and homogeneous group that often overlooks these vital contributors.
“It is essential for the custodians of these funds to challenge the status quo and look beyond traditional norms, because the era of collateral requirements is outdated particularly for startup ideas and projects.
“In a nation where over 60 per cent of the population is youthful and brimming with talent, we need a government that actively engages with and invests in these young people.”
The Doodle-Film boss said that policymakers must be deliberate about creating programmes and projects that target the community.
According to him, for every success we celebrate, countless opportunities are missed.
“This insight stems from my extensive connections within academia and the cultural arts, theater and film sectors over the past decade, where I have encountered extraordinary talents and transformative ideas.
“Regrettably, many in leadership positions seem unaware of what a startup truly represents or the potential it holds.
“A simple definition from an AI query describes a startup as a newly founded business in its initial operational phase, aiming to establish a scalable and repeatable business model focused on rapid growth and innovation.
“Startups often challenge existing markets or create new ones, relying heavily on external funding that are characterised by high levels of risk and a willingness to adapt to ever-changing market conditions,” he noted.
Ade-Aluko said that he believed that Tinubu, as a risk-taker, recognised the importance of the concept, adding that the President reflected a commitment to calculated risks from the outset
He added that such risk was the spirit of entrepreneurship that aligned closely with the mindset of startup founders, who thrived on innovation and perseverance.
“To reinvigorate hope in Nigeria’s creative sectors, it is essential to rethink our funding strategies and support the true visionaries ready to shape the future.
“As the founder of Doodle-Film Hub, my mission is to establish a Nigerian cinema model that introduces affordable viewing options, curbing piracy while empowering the youth.
“By creating a new cinema ecosystem that aims to engage the youth community in meaningful ways.
“The Nigerian motion picture industry needed most at this moment is the hope of our youth to revitalise through meaningful investments that engage and empower them.
“To achieve this, we must prioritise initiatives that blend education and entertainment that we often refer to as “edutainment.”
“Investing in innovative projects and creating platforms for young talent, we can cultivate an environment where creativity thrives and stories are told authentically,” Doodle-Film CEO said.
According to him, this approach will not only support the film industry, but also foster a sense of purpose and belonging among our youth, nurturing their potential to become the next generation of storytellers and leaders.
“In summary, while the ‘Renewed Hope Agenda’ for the creative economy has the potential to transform Nigeria’s creative sectors, it is crucial that these initiatives are pursued with renewed vigor and strategic vision.
“By learning from past successes and failures, we can pave the way for a brighter future in the arts and entertainment, ultimately to benefit the entire nation.
He appealed to all Nigeriansto work together and rekindle the hope of Nigerian youth and shape a brighter future for the nation’s cinema and culture.(NAN)
