FG Unveils $100 Billion Creative Economy Growth Plan, Aiming to Create 2 Million Jobs

Nigeria’s creative economy is expected to produce over two million jobs annually and at least $100 billion, according to an ambitious eight-point plan released by the Federal Government. At a roundtable with domestic and foreign investors in Lagos, Nigeria’s Minister of Art, Culture, and the Creative Economy, Hannatu Musa Musawa, unveiled the plan. Its goal is to boost the country’s creative sector by 400% by 2027, setting it up for major long-term advancements.

The Minister explained that the 8-Point Plan and Roadmap includes a number of important projects, such as policy frameworks, skills development, governance, growth targets, collaboration, strategic alliances, and the protection of cultural assets and the business climate.

Musawa pointed out that although Nigeria’s creative industry has enormous potential, its numerous sub-sectors are at varying levels of growth, and as of right now, it only makes up $5 billion of the country’s GDP.

The ministry has selected 14 key projects to carry out this plan, which are anticipated to spur industry growth and raise government revenue by $10–20 billion. The four primary pillars of these activities are: international culture promotion; technology, infrastructure and funding; and intellectual property monetization.