Entertainment

Olaoluwa Denies $200m Entertainment Fund

Published

11 years ago

November 21, 2014

Contrary to the report
credited to President Goodluck Jonathan that Federal Government had set aside the sum of $200 million as intervention fund to help the entertainment industry, the new Managing director of the Bank of Industry (BOI) Rasheed Olaoluwa has disclosed that no such fund is with the bank.
Speaking recently at the Ministry of Trade and Investment Media Workshop, Olaoluwa disclosed that he was not aware of any fund of such with the bank.
He said, ‘I want to state publicly that there is no such fund earmarked for Nollywood or entertainment industry” adding that he is aware, however of the N3 billion with the finance ministry.
It will be recalled that President Goodluck Jonathan was reported to have publicly disclosed at the Silverbird Group 30th anniversary held at Eko Hotels and Suites that the sum of $200 million has been set aside by the Federal Ministry of Finance for direct investment into the Nigerian Entertainment industry. While the news brought relief to practitioners in the industry, the reality as at now may be that such statement was mere political statement. Corroborating the statement however, in November 2010, the former managing director of Bank of Industry, Mrs Evelyn Oputu revealed that plans to support the Nigerian Entertainment industry popularly known as Nollywood had been concluded by the Federal Government through the Bank of Industry BOI and the African Development Bank (ADP) on a N75 billion Funding facility.
She said the potential of the essential sector of the economy has now led to the arrangement of N15 billion fund that would be targeted at different point in the value chain of the entire entertainment industry from artiste development to video production and editing and then marketing and distribution. The managing Director said this during an annual General symposium organised by the Lagos Chamber of Commerce and Industry (LCCI) adding that the fund was at the verge of disbursement.

Entertainment

NGO hails Tinubu’s climate awareness tour

Published

1 day ago

March 9, 2026

The Tide

Jewel Environmental Initiative (JEI), a Non-Governmental Organisation (NGO), has commended President Bola Tinubu for inaugurating the Renewed Hope Climate Change Awareness Tour, urging Nigerians and stakeholders to support the initiative nationwide.

Mr Ismail Bima, Chief Executive Officer of JEI, said in a statement in Gombe yesterday that the tour would significantly strengthen public understanding of climate change and encourage collective environmental responsibility.

Bima described the initiative as a clear affirmation of the Federal Government’s commitment to pursuing practical solution driven strategies that addressed climate challenges and safeguarded livelihoods, ecosystems, and national development efforts.

He noted that the programme would achieve its objectives if government institutions, private organisations, civil society groups, and citizens actively played their respective roles in promoting awareness, resilience, and sustainable practices.

According to him, the inauguration marks an important step toward building a nationwide movement capable of delivering measurable progress in Nigeria’s broader efforts to secure a climate resilient future for generations.

He said JEI fully aligned with the Renewed Hope Climate Change Awareness Tour, noting that the initiative could inspire innovation, strengthen environmental education, and promote sustainable development across communities nationwide.

Bima also commended the Minister of Environment and urged federal, state, and local stakeholders to support the initiative, stressing that climate change impacts affected all citizens regardless of region or status.

He emphasised that growing climate pressures on agriculture, livelihoods, and ecosystems made the awareness tour timely, adding that stronger information sharing and partnerships were necessary to confront environmental risks nationwide.

He urged authorities to implement the initiative with sustained commitment, extend activities to grassroots communities, and collaborate with state and local governments to ensure wider participation and maximum impact nationwide effectively.

The Tide source reports that President Tinubu inaugurated the Renewed Hope Climate Change Awareness Tour in Abuja on Tuesday to promote climate resilience and sustainable development nationwide initiatives.

Entertainment

They Booed, Threw Bottles At Me – Tems Recounts

Published

2 weeks ago

February 27, 2026

The Tide

R&B star, Temilade Openiyi, popularly known as Tems, has recounted the early-career challenges she faced, revealing that she was once booed out of the stage while performing at a school event.

Speaking in an interview with Newsmen, the Crazy Tings crooner shared that she wasn’t only booed but was also harassed with plastic bottles.

“I remember one time I was going to perform at my school as an up-and-coming singer and I thought I was going to receiving a standing ovation.

“But I got booed. They even threw plastic bottles at me,” she recalled.

Tems explained that despite the embarrassing incident and other such rejections, she remained determined to pursue a career in music.

The Tide Entertainment reports that Tems admitted that some of the initial rejections she faced could be due to her conviction to stick to her originality instead of doing covers or familiar sounds like most of her peers.

The Grammy-winning singer said looking back now, she is glad that she didn’t compromise her style despite the initial pressures.

Entertainment

Primeboy Pleads For Mohbad’s Burial

Published

2 weeks ago

February 27, 2026

The Tide

A close associate of late singer Mohbad, Primeboy, has appealed for the artiste’s burial nearly three years after his death.

According to him, Mohbad’s body remains in the mortuary since September 12, 2023, pending burial arrangements.

The Tide Entertainment reports that in a statement Primeboy urged the family, public, and government to permit the burial, stating, “It’s been almost three years since Mohbad left us. His body is still in the mortuary. I’m begging the family, I’m begging the public, I’m begging the government, please let’s bury our brother. He deserves a befitting burial.”

It would be recalled that Mohbad’s death sparked public outrage, protests, and investigations. Ongoing autopsy examinations, police inquiries, and legal proceedings have delayed burial arrangements amid family disagreements and public scrutiny.