AGS NEWS – The Federal Government has unveiled a plan to generate at least $100 billion and create over two million jobs annually from Nigeria’s creative economy.

Hannatu Musawa, the Minister of Art, Culture, and the Creative Economy, announced the strategy on Wednesday during a roundtable with local and international investors in Lagos.

Musawa highlighted that despite Nigeria’s creative industry having significant potential, it currently contributes only $5 billion to the economy, with a low 1.2% share of GDP in 2022, lagging behind African peers like Egypt and South Africa.

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To boost the sector, Musawa outlined a roadmap built on four pillars: technology, infrastructure and funding, international culture promotion, and intellectual property monetisation.

The ministry aims to grow the sector’s revenue to between $10 billion and $20 billion through 14 key initiatives.

These include expanding digital tools for creatives, launching a content distribution initiative, enhancing internet access, and developing industry-specific infrastructure through public-private partnerships.

Musawa also emphasized promoting Nigerian arts abroad through embassies, leveraging trade agreements to boost exports, and improving intellectual property protections.

She projected a 400% growth in Nigeria’s creative economy by 2027. Several initiatives and collaborations are already underway to achieve these goals.