Cynthia Ezegwu
The Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musawa, has referred to as on stakeholders to extend funding in Nigeria’s artistic sector to spice up inclusive progress, employment, and international competitiveness.
Speaking on the thirty first Nigerian Economic Summit in Abuja on Tuesday, Musawa highlighted the sector’s huge potential, noting that the artistic financial system at present contributes about 2.3 per cent to the nation’s Gross Domestic Product (GDP) and employs over 4.2 million folks throughout numerous sub-sectors.
In a press release signed by her Senior Special Adviser on Media, Nneka Anibeze, the minister cited the success of Nollywood, Afrobeats, and the style trade as examples of Nigeria’s rising artistic affect, stressing the necessity for each native and worldwide funding.
“We must create an environment that attracts investors to our creative industries. This requires not only financial incentives but also a strong regulatory framework that ensures transparency, accountability, and ease of doing business,” Musawa mentioned.
She recognized restricted entry to funding, insufficient infrastructure, and regulatory challenges as key obstacles to the sector’s progress. The minister urged {financial} establishments to design devices tailor-made to the artistic trade’s distinctive wants and referred to as for extra funding in infrastructure and expertise improvement.
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Musawa additionally pledged that her ministry would proceed to push for reforms to reinforce the regulatory setting, promote innovation, and help artistic entrepreneurs.
“Together, we can build a future where creativity and innovation drive sustainable economic growth and cultural prosperity for Nigeria,” she mentioned.
The summit, themed “Building Productive Sectors: Investing in the Creative Economy,” introduced collectively key trade gamers, traders, and policymakers to discover methods for strengthening Nigeria’s artistic ecosystem.
