Creative Ministry to contribute $100 billion to Nigeria’s economy by 2030 – Hannatu Musawa  

Musawa said this while speaking with State House Correspondents at the end of the sixth Federal Executive Council (FEC) meeting on Monday.

“Our ministry has committed to contributing and growing the economy by $100 billion by 2030, and we hope to do that by putting all the modalities in place that will allow the industry to grow organically on its own,” she stated.

The minister told journalists that a memo seeking to monetize Nigeria’s tangible and intangible assets in both the creative, cultural, and tourism industry was approved by the FEC.

“We also want to address unemployment by creating jobs. We are going to create at least two million jobs by 2027 within this industry,” Musawa said.

“So, the strategy for this monetisation is going to take four separate processes. We’ve already finished that specific process. Now, it is for us and Moby to sit down to monetise them, ” she added.

The minister highlighted that the development is an exciting economic time for Nigerian identity, traditions, and culture.

Nigeria’s creative industry has grown significantly in recent years, mainly powered by music (Afrobeat) and movies (Nollywood).

The growth in the creative industry in recent times is fueled by Nigeria’s large young population and the multicultural setting of the nation.

With over 70% of its 210 million population under 30 years old and about 250 tribes speaking 500 languages, Nigeria is a melting pot of cultures, creating the perfect environment for creativity to thrive.

In September 2024, Musawa presented the ministry’s Strategic Roadmap for Nigeria’s creative sector to the diplomatic community and international partners, with the goal of creating at least two million jobs.