The Federal Government has announced a bold strategy to transform Nigeria’s creative economy, targeting $100 billion in annual revenue and over two million jobs. The plan was detailed by Hannatu Musawa, Minister of Art, Culture, and the Creative Economy, during a roundtable with investors in Ikoyi, Lagos.
Musawa highlighted that Nigeria’s creative sector, despite its vast potential, currently contributes only $5 billion to the national economy. This represents a modest 1.2% of Nigeria’s GDP, significantly lower than other African countries such as Morocco (2.7%), South Africa (3.0%), and Egypt (4.3%). Furthermore, Nigeria earns just 1% of its government revenue from the sector, compared to South Africa’s 12.5%.
To address these challenges, Musawa outlined a comprehensive eight-point plan structured around four key pillars: technology, infrastructure and funding, international culture promotion, and intellectual property monetization.
Technology: The ministry plans to provide Nigerian creatives with discounted digital tools and launch the Nigeria Content Distribution Initiative. They will also conduct a study to assess the creative industry and expand internet access in underserved regions.
Infrastructure and Funding: Initiatives include cataloging current infrastructure, developing new facilities, leveraging public-private partnerships, offering incentives to stakeholders, and launching a creative accelerator program to support investment and capacity building.
International Culture Promotion: I Musawa announced the establishment of a culture promotion office in collaboration with Nigerian embassies abroad. This office will promote Nigerian arts and culture and utilize the African Continental Free Trade Area (AfCFTA) to expand the export of Nigerian creative output.
Intellectual Property Monetisation: The ministry aims to set up globally standardized collection management organizations, launch a copyright oversight initiative with the Nigeria Communications Commission, and develop a robust intellectual property framework.
Musawa expressed confidence in the sector’s growth potential, stating, “Nigeria’s creative economy has the potential to grow by 400% by 2027, positioning the sector for significant long-term advancement.”
The ministry has already begun implementing several initiatives and forming partnerships to achieve these ambitious goals, paving the way for a vibrant and lucrative creative industry in Nigeria.
