FG aims to generate $100bn, 2m jobs from creative industry
The Minister of Arts, Culture, and Creative Economy, Hannatu Musa Musawa, has unveiled plans to generate $100 billion in investment and create 2 million jobs through the creative and cultural sectors to revitalize the Nigerian economy.
In an interview, the minister stated that the current administration is committed to securing a significant portion of the global market, which is valued at over $1 trillion, for Nigeria’s creative industry in line with the renewed hope agenda of the administration.
Musawa emphasized that this goal is achievable by leveraging opportunities within the creative and cultural economy value chain through policies that foster a business-friendly environment.
“We are currently engaging in public-private partnerships and have signed agreements with the Nigerian Economic Summit Group (NESG) to accelerate the process of attracting innovative funding pools for stakeholders in the creative ecosystem,” she said.
The minister also announced a partnership with BigWin Philanthropy, a major international development partner, to deliver a transformative job creation and industry strategy.
She explained that the ministry was drawn to the BigWin partnership due to its success in providing 500,000 Rwandan youths with digital skills and creating one million sustainable jobs in Côte d’Ivoire.
The minister further stated that the ministry is implementing four key components to create two million jobs in the creative economy through the BigWin partnership.
“Firstly, we are implementing a job creation strategy that leverages regulatory frameworks, strategic investments, partnerships, and fiscal incentives. This strategy will maximize job creation potential within the industry,” she said.
She also revealed that the ministry is exploring synergies with Nigeria’s commitments under the African Continental Free Trade Area (AfCFTA) and broader economic expansion initiatives to boost Nigeria’s creative opportunities within Africa’s $3.4 trillion market.
The minister affirmed ongoing partnerships with key developers in the creative economy ecosystem, such as the Bank of Industry.
She added that the revitalization of the National Theatre and the transformation of its surrounding areas are enhancing the creative industry ecosystem and creating opportunities in performance spaces, exhibition centers, creative hubs, and recreational facilities.
She noted that the revitalization would create opportunities for thousands of Nigerians within the creative industries value chain.
“Artists, performers, and entrepreneurs are already engaging with us to explore economic opportunities at the National Theatre,” she stated.
Proofreading by Uchechi Ojo, Sub-editor at Neptune Prime.
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