By Blessing Otobong-Gabriel
Minister of Art, Culture and Creative Economy, Hannatu Musa Musawa said the creative economy currently contributes $5.6 billion to the nation’s Gross Domestic Product, GDP.
Musawa disclosed this while addressing the US-Nigeria Council on Wednesday in New York,
Reflecting on its rich heritage and vibrant spirit, the minister highlighted initiatives like Creative Leap Accelerator Programme, CLAP, and CultuRise, aimed at amplifying Nigeria’s global presence in the creative industry.
She emphasised the importance of US-Nigeria’s collaboration in key areas, including knowledge exchange, infrastructure development, intellectual property protection and joint promotions.
A statement by the Special Adviser on Media and Publicity, FMACCE, Nneka Anibeze, said“One key area where we can deepen US-Nigeria collaboration is through knowledge exchange and capacity building. By establishing partnership between our universities, training centers and creative organisations, we can share best practices, develop innovative curricula and equip our artists with the skills they need to succeed in the global marketplace. Our CLAP initiative aims to drive these meaningful partnerships”.
To support the growth of Nigeria’s creative sector, the minister announced the establishment of the Creative Economy Development Fund, CEDF, a $500 million fund providing affordable financing to creative businesses and entrepreneurs.
“The fund will offer loans at concessionary interest rates, with a focus on supporting startups, small businesses and underserved segments of the creative economy. CEDF will also provide technical assistance and capacity building to help creative businesses become investment-ready and access markets. We invite our American partners to contribute to CEDF and help unlock the vast potentials of Nigeria’s creative talent.
“The potential for US-Nigeria collaboration in the creative industry is immense. Our roadmap and sector strategy provide a comprehensive framework to increase the sector’s GDP from $5.6 billion to $20 billion by 2027, drive government revenue and position Nigeria as a leader in the global creative economy. By leveraging our shared strengths, we are creating a vibrant and sustainable creative economy that benefits both nations.
“We are building bridges between our nations, fostering greater understanding and cooperation. Together, let us create a brighter future for our artists and our peoples”, the minister said.
