The Federal Government has revealed its strategic plan to generate at least $100 billion annually and create over two million jobs through Nigeria’s creative economy.
Hannatu Musawa, the Minister of Art, Culture, and the Creative Economy, shared the details on Wednesday during a roundtable with local and international investors in Ikoyi, Lagos. She presented an eight-point plan outlining the roadmap for the sector’s growth.
Musawa expressed concern that despite its vast potential, Nigeria’s creative industry currently contributes only $5 billion to the economy, with sub-sectors at varying stages of development. Citing data from the National Bureau of Statistics, she noted that the creative economy contributed just 1.2% to Nigeria’s GDP in 2022, lagging behind African peers such as Morocco (2.7%), South Africa (3%), and Egypt (4.3%).
Additionally, Nigeria’s ability to generate government revenue from the sector was low, at 1%, compared to South Africa’s 12.5%.
To achieve the government’s ambitious goal, Musawa outlined 14 key initiatives grouped under four pillars: technology, infrastructure and funding, international culture promotion, and intellectual property monetization.
The plan includes providing Nigerian creatives with better access to digital tools at discounted rates, launching the Nigeria Content Distribution Initiative, conducting studies to gauge the industry’s size, and expanding internet access to underserved regions.
For infrastructure and funding, the focus will be on cataloging existing infrastructure, developing new facilities, and utilizing public-private partnerships to fund growth. Incentives will be offered to stakeholders, and a creative accelerator program will provide capital and capacity-building support.
Under international culture promotion, the ministry plans to establish a culture promotion office that will work with Nigerian embassies abroad to promote Nigerian arts and culture, while leveraging the African Continental Free Trade Area (AfCFTA) to boost creative exports regionally and globally.
Regarding intellectual property, Musawa said the ministry would set up globally standardized collection management organizations, partner with the Nigerian Communications Commission to improve copyright enforcement, and develop a comprehensive intellectual property framework.
Musawa projected that Nigeria’s creative economy could grow by 400% by 2027, positioning the sector for long-term success. She added that the ministry had already launched several initiatives and partnerships to achieve these goals.