The Federal Government on Wednesday unveiled details of its plans to generate at least $100 billion and create over two million jobs from Nigeria’s creative economy yearly.
Minister of art, culture and the creative economy Hannatu Musawa disclosed the plan at a roundtable for local and international investors where she presented her ministry’s eight-point plan and roadmap.
Speaking at the event held in Ikoyi, Lagos, Musawa said that if implemented to its fullest, the plan has the potential to achieve the above-stated objectives.
She listed the eight-point plan as follows: Nigeria Destination 2023, a national initiative designed to grow the arts, culture and creative economy under one united vision; skills development; fastrack policy frameworks; strategy governance and collaboration; and smart strategic partnerships.
Others are growth targets for GDP contribution and sectoral output; enabling business environments; and cultural heritage preservation and sustainability.
She lamented that despite its huge potential, Nigeria’s creative industry currently contributes just $5 billion to the economy, with its different sub-sectors at various stages of development. The sectors include music (sound recording, live performances and music videos), visual media (movies, TV shows, comedy shows, podcast, content creation), visual arts and craft (canvas painting, design, sculpturing, woodwork and other craft works), heritage and museums, culinary arts, fashion, publishing (books, literary arts, poetry, magazine, etc), and video gaming.
According to the National Bureau of Statistics, Nigeria’s creative economy has a very low contribution to overall GDP in comparison with benchmark countries, with the industry contributing just 1.2% to Nigeria’s GDP in 2022, the least when compared to other African countries like Morocco (2.7%), South Africa (3.0%), and Egypt (4.3%). It also ranks low (1.0%) in its ability to earn government revenue from the sector, compared to South Africa’s 12.5%.
To achieve its ambition, Musawa said the ministry has identified 14 pivotal initiatives that will drive the sector’s growth and significantly boost government revenue $10b – $20b. She grouped these initiatives under four pillars, namely: technology, infrastructure and funding, international culture promotion, and intellectual property monetisation.
The event featured a panel session involving the minister and top officials of the ministry including the director-general, National Council for Arts and Culture, Obi Asika; principal adviser to the minister, Faiz Imam; and the managing director, Nigerian Film Corporation, Ali Nuhu.
