The Minister of Art, Culture and the Creative Economy, Hannatu Musa Musawa has disclosed that the Federal Government is poised to generate at least $100 billion and create over two million jobs from Nigeria’s creative economy yearly.
According to her, the eight-point plan, unveiled at a roundtable for local and international investors in Lagos, has the potential to grow Nigeria’s creative economy by 400 percent in three years.
She stated that the roadmap include initiatives such as skills development, policy frameworks, governance and collaboration, smart strategic partnerships, growth targets, enabling business environments, cultural heritage preservation, and sustainability.
However, the minister lamented that despite Nigeria’s creative industry’s huge potential, it currently contributes just $5 billion to the economy, with its different sub-sectors at various stages of development.
Mrs Musawa disclosed that in a bid to achieve the plans, the ministry will come up with initiaives that will drive the sector’s growth and boost government revenue by $10 billion to $20 billion within the period.
She noted that the initiatives are grouped under four unique pillars: Technology, Infrastructure and Funding, International Culture Promotion, and Intellectual Property Monetisation.
By Dave Oludare Oso
