The Federal Government has formalized a partnership with the Nigerian Economic Summit Group (NESG) by signing a Memorandum of Understanding (MoU) aimed at developing a framework for financing and unlocking the potential within the creative industry.
The MoU, signed in Abuja, aims to revitalize the creative sector and make significant contributions to Nigeria’s Gross Domestic Product (GDP), targeting a $100 billion boost by 2030 and the creation of two million jobs by 2027.
Ms. Hannatu Musawa, the Minister of Arts, Culture, and Creative Economy, expressed optimism that this collaboration would fully harness Nigeria’s creative industry’s potential, transforming it into a significant economic contributor and major revenue generator.
The Minister highlighted that the Ministry, in collaboration with NESG, has developed a comprehensive national policy for the creative economy. This policy is designed to provide strategic direction and foster growth within the sector.
“Once approved, the policy will be submitted to the National Assembly to establish an Act creating a central authority for art, culture, and the creative economy, alongside a dedicated fund, aligning with the Ministry’s key performance indicators,” Ms. Musawa stated.
Dr. Tayo Aduloju, the Chief Executive of NESG, described the MoU as a pivotal moment for Nigeria’s creative industry. He emphasized that the Creative Economy Working Group will facilitate public-private dialogue and foster collaboration among industry stakeholders.
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