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Former Minister of Information and Culture Alhaji Lai Mohammed has lauded Nigeria’s creative industry, calling it a “goldmine” and one of the country’s fastest-growing sectors.
He emphasised the industry’s vast potential for generating business opportunities, employment, revenue, and entertainment, highlighting its remarkable growth and substantial contributions to the national economy.
Speaking at the “Giessen Meets The World” forum, which was organised by the IHK Giessen-Friedberg Chambers of Commerce and Industry in Germany on Thursday, June 13, Mohammed underscored the creative industry’s significant contribution to Nigeria’s Gross Domestic Product (GDP).
He pointed out that Nigeria’s creative sector encompasses 24 different segments, such as fashion, music, film, literature, and visual arts, among others.
As the Managing Partner of Bruit Costaud, a policy advisory firm, Mohammed referenced research from Jobberman, noting that the creative sector is Nigeria’s second-largest employer and has the potential to generate an additional 2.7 million jobs by 2025.
He also detailed the sector’s extensive value chain, including production, distribution, and marketing, thereby creating many employment opportunities.
Mohammed said, “The creative sector serves as a powerful engine for economic growth, contributing substantially to Nigeria’s GDP through the production and distribution of creative goods and services.”
Nigeria’s exploit on the international scene
He emphasised how the industry’s value chain creates numerous job opportunities for artists and performers, technicians, marketers, and administrative personnel.
Mohammed also discussed the industry’s profound digital transformation, saying, “The rise of online platforms, streaming services, and digital distribution channels has democratised content creation and distribution, making Nollywood films, music, fashion shows, and art exhibitions accessible to a global audience.”
He highlighted the increasing prevalence of global collaborations and cross-cultural influences, which have expanded the global footprint of Nigerian content.
“International collaborations in music, film productions, and fashion events have elevated the industry’s global standing,” he noted.