The Federal Government has signed an MoU with the Nigerian Economic Summit Group, NESG, to develop a framework for financing and unlocking the potential in the creative industry.
The Memorandum of Understanding was signed in Abuja, to revitalize the sector and contribute significantly to Nigeria’s Gross Domestic Product of $100b by 2030, also creating two million jobs by 2027.
The Minister of the Ministry of Arts, Culture and Creative Economy, Ms Hannatu Musawa, expressed optimism that the collaboration would unleash the full potential of Nigeria’s creative industry, transforming it into a significant contributor to the nation’s economy and a major revenue generator.
The Minister explained that the Ministry and the NESG have co-created a policy thrust for a comprehensive national policy on the creative economy, which will provide strategic direction to foster growth within the sector.
”Once approved, the policy would be pushed to the National Assembly to establish the Act that will create a central authority for art, culture, and the creative economy and establish a fund, in alignment with the Ministry’s key performance Indicator”. The Minister noted.
