Nigeria’s Creative Economy Targets $100 Billion Boost by 2030 – Minister Musawa
The Minister of Art, Culture, Tourism, and the Creative Economy, Hannatu Musawa, has revealed the government’s ambitious plan for the creative sector to contribute $100 billion to Nigeria’s economy by the year 2030. Speaking after the sixth Federal Executive Council (FEC) meeting, Musawa emphasized the ministry’s commitment to fostering organic growth within the sector through well-structured strategies and policy frameworks.
Musawa noted that a key element in achieving this economic target involves monetizing Nigeria’s vast creative and cultural assets. The FEC approved a memo that will allow the ministry to unlock value from both tangible and intangible heritage, such as monuments, artifacts, and tourism landmarks. This initiative will create a new revenue stream that the government has never previously tapped into.
Job creation also sits at the heart of this vision. The minister stated that the creative industry is expected to generate at least two million jobs by 2027. The plan is not only to strengthen the sector economically but also to address unemployment through the sustainable development of arts, culture, and tourism. A signed partnership with Moby, an international museum collection agency, is already in place to drive this monetization process forward.
Musawa described the period as a defining moment for Nigerian culture and identity, emphasizing that the push for monetization is a step toward global recognition and economic independence through the creative economy. This strategy is seen as an opportunity to leverage Nigeria’s diverse cultural heritage in ways that directly benefit the national economy.
Nigeria’s creative industry has seen exponential growth, largely driven by Afrobeats and Nollywood. With global recognition of its music stars and the movie industry being the second most productive in the world, Nigeria stands at a cultural and economic crossroads. The country’s youthful population and ethnic diversity continue to serve as a major engine for creative expression, positioning the sector as a cornerstone of the nation’s future economic plans.
Source: Nairametrics