Nigeria unveils $100bln plan to boost creative economy, create two million jobs

Nigeria’s government reveals a $100 billion plan to transform its creative economy, creating two million jobs annually.

[dropcap]T[/dropcap]he Federal Government of Nigeria has announced an ambitious plan to generate $100 billion and create over two million jobs yearly from the creative economy.

Also read: Nigeria to create 1.2million construction industry jobs

The Honourable Minister of Art, Culture, and the Creative Economy, Hannatu Musa Musawa, unveiled this strategic initiative on 11th September 2024.

Speaking at an investors’ roundtable in Ikoyi, the Minister presented the Ministry’s 8-Point Plan, aimed at revolutionising the creative industry.

If fully implemented, the plan promises to significantly impact Nigeria’s economy and job market. Musawa outlined key goals such as increasing GDP contribution and enhancing business environments for the creative sector.

Despite its vast potential, Nigeria’s creative industry currently contributes just $5 billion to the economy, representing 1.2% of GDP.

This is considerably lower than other African nations like Morocco and Egypt. The Ministry’s roadmap seeks to close this gap through initiatives focusing on technology, infrastructure, funding, cultural promotion, and intellectual property monetisation.

The plan includes launching digital content creation tools, improving internet access, and creating partnerships for infrastructure development. It also aims to promote Nigerian arts and culture globally and enhance copyright enforcement.

Musawa emphasised the sector’s growth potential, predicting a 400% expansion by 2027. Partnerships, such as one with BigWin Philanthropy, are already in place to support capacity building and job creation in the industry.

Key projects include the Digital & Immersive Art Centre and Creative Hubs in Nigeria’s 36 states.

This bold initiative positions Nigeria’s creative economy for long-term success and global recognition.