Creative economy to expand GDP to $100bn by 2030 – Minister

Collins Yakubu-Hammer
The Minister of Art, Culture and Creative Economy, Ms Hannatu Musa Musawa, says the sector is set to expand the country’s Gross Domestic Product (GDP) to $100 billion by the year 2030.

Musawa stated this at the Art, Culture and Creative Economy Roundtable, tagged ‘A Creative Industry Intervention’, on Tuesday in Abuja.

The event was supported by the Office of the Vice President, Trembly, Providus Bank, Leadway Assurance Plc and other relevant stakeholders.

According to the minister, since she assumed office some months ago, she and her dedicated team have been working relentlessly on a multitude of initiatives across various work streams.

The Minister explains that their collective aim is singular, bold and to position Nigeria as the world’s culture, creativity and entertainment capital of the world.

“We have since moved beyond mere interventions; we are now on a trajectory of transformation and acceleration in every facet of our creative sector.

“The creative industries are the heartbeat of the new economy, serving as an engine of economic growth, a catalyst of change, and a generator of employment opportunities.

“We are uniquely positioned in this great nation, endowed with an abundance of human capital and boundless possibilities.

“Our transformation team has delved deep into the very fabric of this sector, understanding its dynamics, sizing up the opportunities it presents, and benchmarking against model countries and sectors.

“We have engaged extensively with many of you in this room, the driving forces behind our creative industries.

“Our objective is to contribute ten per cent to the Nation’s GDP expanding sectorial GDP to a remarkable $100 billion by the year 2030,” Musawa stressed.

She explained that the ministry was ready to share its vision for the creative sector, a vision that many have had a glimpsed in the summary of the ministry’s strategic blueprint published last month.

Musawa further explained that the vision of the new ministry is built upon five key pillars, including ‘Policy, Legislative, Regulatory and Intellectual Property Reforms’, ‘Cultural’ and ‘Economy’ plans.

“Others are ‘Private Sector Engagement’ and ‘Destination 2030, Nigeria Everywhere’, which created a brand that will unite us across all initiatives as both our overall strategic direction and our soft power initiative.

“Destination 2030, Nigeria Everywhere will promote our culture and showcase our creators to the world, establishing Nigeria as the leading global hub for arts, culture and creativity.

“We believe that Nigeria’s cultural influence should transcend borders, and we are committed to making it a reality.

“As we embark on this transformative journey together, let us remember that each one of you, with your creativity and passion, is an indispensable part of this narrative.

“Our collective efforts will not only make Nigeria the world’s creative capital but also enrich the lives of our people and inspire generations to come,” Musawa said.

The Special Assistant to President Bola Tinubu on Digital Creative Economy, Mr Fegho Umunubo, said Musawa has articulated a vibrant road map for the creative sector that would impact on all regions of the country.

“It is my hope that together with industry players, we will achieve a one billion dollar economy by 2030.

The creative economy is gradually becoming the new oil.

“We are hopeful the achievements of the players in this industry would help reposition the image of this great country,” Umunubo said.

Similarly, the Chief Executive Officer of Trembly, Mr Lawrence Ogungbe, said Nigeria’s creative industry is the most vibrant eco system in the world, adding that the world is yet to embrace all we have.

Meanwhile, the Managing Director of Providus Bank, Mr Walter Akpani, suggested that the $100 billion mark should be increased to $200 billion.

The News Agency of Nigeria reports that dignitaries at the event included the Minister of Labour and Productivity, Mr Simon Lalong; Minister of Budget and National Planning, Alhaji Atiku Bagudu; officials from the office of the Vice President, industry players and other stakeholders from the art and culture industry.



ng)Edited by Muhammad Suleiman Tola

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