FG Aims for $100bn Investment and 2m Jobs in the Creative Economy.
The Minister of Arts, Culture and Creative Economy, Hannatu Musa Musawa, has announced plans to generate $100 billion in investment and create 2 million jobs from the creative and cultural sector to revitalize the Nigerian economy.
The minister emphasized that the current administration is purposefully focused on ensuring that Nigeria’s creative industry captures a substantial share of the global market, which exceeds $1 trillion. This initiative aligns with the administration’s renewed hope agenda, aiming to position Nigeria as a leader in the creative sector.
Musawa highlighted the feasibility of achieving this goal by tapping into the creative and cultural economy value chain. She underscored the importance of implementing policies that create a favorable business environment, which is crucial for attracting investment and fostering growth in the sector.
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To expedite this process, the ministry is actively pursuing public-private partnerships. A significant collaboration has been established with the Nigerian Economic Summit Group (NESG), aimed at attracting innovative funding sources for stakeholders within the creative ecosystem.
Additionally, the minister announced a partnership with BigWin philanthropy, a prominent international development partner. This collaboration is designed to deliver a transformative job creation strategy and industry framework, leveraging BigWin’s successful track record in empowering youth with digital skills and generating sustainable employment in other African nations.
The ministry is committed to implementing a comprehensive job creation strategy that encompasses regulatory frameworks, strategic investments, partnerships, and fiscal incentives. This multifaceted approach aims to maximize job creation potential within the creative economy.
Furthermore, Musawa revealed that the ministry is exploring synergies with Nigeria’s commitments under the African Continental Free Trade Area (AfCTA). This exploration is part of broader economic expansion initiatives intended to enhance Nigeria’s creative opportunities within Africa’s $3.4 billion market.
In conclusion, the minister affirmed the ongoing partnerships and collaborative efforts that are vital for advancing Nigeria’s creative industry. These initiatives are expected to significantly contribute to job creation and economic growth, positioning Nigeria as a key player in the global creative market..
