The Federal Government of Nigeria has unveiled an ambitious eight-point plan aimed at transforming the country’s creative economy, with the goal of generating $100 billion annually and creating over two million jobs. The plan was introduced by the Minister of Art, Culture, and the Creative Economy, Hannatu Musa Musawa, at a high-profile investor roundtable in Lagos.
According to the Minister, the new strategy has the potential to grow Nigeria’s creative economy by 400% by 2027, setting the sector on a path to long-term growth. Musawa emphasized that despite the creative industry’s vast potential, it currently contributes only $5 billion to Nigeria’s economy, with many sub-sectors still underdeveloped.
The 8-Point Plan focuses on key initiatives such as: 1. Skills development 2. Policy frameworks 3. Governance and collaboration 4. Strategic partnerships 5. Growth targets 6. Enabling business environments 7. Cultural heritage preservation 8. Sustainability
To support this roadmap, the Ministry outlined 14 pivotal initiatives grouped under four pillars: Technology, Infrastructure and Funding, International Culture Promotion, and Intellectual Property Monetisation. These initiatives are expected to increase government revenue by $10 billion to $20 billion annually, setting the stage for a flourishing creative sector.
This bold move is part of Nigeria’s broader efforts to position itself as a global leader in the creative economy, fostering job creation and economic diversification.
