LAGOS/Nigeria: The African creative industry has received another boost as Canex Creations Incorporated (CCI), a commercial subsidiary associated with the African Export-Import Bank’s (Afreximbank) creative industry financing initiative, has signed an investment agreement with Adonis Production for the film, 77: The Festac Conspiracy.
The agreement was signed by the film’s Executive Producer and Chairman of the Board of Adonis Production, Prince Tonye T. J. T. Princewill, during the 2026 Creative Africa Nexus (CANEX) Weekend in Lagos.
The production, which is a sequel to the acclaimed Nigerian film 76, is scheduled for release in cinemas in early 2027 and explores the events surrounding the historic 1977 Festival of Arts and Culture (FESTAC).
Speaking at the signing ceremony, CCI Chief Executive Officer, Osahon Akpata, described the project as an important contribution to African storytelling, expressing confidence in the production’s potential to deliver a film that audiences across the continent would appreciate.
Akpata pledged the organisation’s support for the project and encouraged other African filmmakers to pursue high production standards and develop stories capable of attracting international attention.
In his remarks, Princewill thanked CCI for its confidence in Adonis Production and the decision to support the film, promising that the company would work to justify the investment and encourage further backing for African creative projects.
He explained that the production company’s filmmaking philosophy was centred on real-life events and authentic African experiences, arguing that the continent had numerous stories deserving wider international attention.
“Adonis Production focuses on true stories because Africa has so much truth to tell. Reality is stranger than fiction,” Princewill said.
He also highlighted the historical connection between the film’s subject and its signing venue, the National Theatre in Lagos, noting that the building and Festac Village were developed in connection with the 1977 cultural festival.
Princewill described the forthcoming production as an opportunity to revisit that important chapter of African cultural history, particularly as the continent approaches the 50th anniversary of FESTAC ’77 in 2027.
The signing ceremony took place at the Banquet Hall of the National Theatre, where Afreximbank Executive Vice-President and Chair of the CCI Board, Mrs Kanayo Awani, joined the principal participants on stage.
77: The Festac Conspiracy follows the earlier film 76, which explored a significant period in Nigeria’s military and political history and remains available on Netflix.
The new production turns attention to the intrigues and events surrounding FESTAC ’77, officially known as the Second World Black and African Festival of Arts and Culture, which brought together artists, performers and cultural representatives from Africa and the global Black diaspora in Lagos.
The partnership also highlights the growing interest of financial institutions in supporting African films and other creative enterprises as viable cultural and commercial investments.
With its cinema release planned for early 2027, 77: The Festac Conspiracy is expected to contribute to renewed public interest in the history and cultural significance of FESTAC ’77.
