The Federal Government has introduced an ambitious eight-point plan aimed at generating at least $100 billion and creating over two million jobs annually from Nigeria’s creative economy. The plan, announced by the Minister of Art, Culture and the Creative Economy, Hannatu Musa Musawa, during a roundtable in Lagos with local and international investors, is designed to increase Nigeria’s creative economy by 400% by 2027.
The eight-point plan encompasses skills development, policy frameworks, governance, strategic partnerships, growth targets, enabling business environments, cultural heritage preservation, and sustainability. Despite the creative industry’s vast potential, it currently contributes only $5 billion to the economy, with its various sub-sectors at different stages of maturity.
To achieve the plan’s goals, the ministry has outlined 14 key initiatives under four main pillars: Technology, Infrastructure and Funding; International Culture Promotion; and Intellectual Property Monetisation. These initiatives aim to significantly enhance sector growth and increase government revenue by $10 billion to $20 billion.