…Targets 2M jobs by 2027
Hannatu Musawa, Minister of Arts, Culture, and the Creative Economy, has revealed that the ministry has secured over $300 million in investment commitments.
Musawa disclosed this at the Ministerial Press Briefing Session held on Friday in Abuja.
She emphasised that the government has set a goal of creating at least two million jobs within the creative industry by 2027.
According to her, “In just 18 months, we have secured over $300 million in investment commitments and established innovative funding mechanisms, including the Creative Economy Development Fund (CEDF).
“We have also initiated the development of key infrastructure projects, which are projected to generate at least two million jobs by 2027.”
The Minister further noted that President Bola Tinubu plans to unveil creative hubs across Nigeria’s six geopolitical zones in the coming months, positioning Nigeria as a global hub for creativity.
“Beyond the numbers, we have elevated Nigeria’s global cultural standing while ensuring inclusivity, empowering rural communities, women, and young people to participate meaningfully in the creative economy,”.
The Minister highlighted the significant role the creative economy will play in Nigeria’s future, particularly the music industry.
She pointed out that the government has identified five key segments within the music value chain production, marketing, sales, and others—that can generate over 500,000 new jobs by 2030, representing a transformative opportunity for Nigeria’s economy.
“A key initiative in this drive is the $200 million Creative Economy Development Fund (CEDF), managed by the African Export-Import Bank (AfreximBank).
The fund aims to provide affordable financing to creative businesses and entrepreneurs, empowering them to innovate, expand their operations, and contribute to job creation across multiple sectors such as film, music, fashion, and tourism.
The minister said in addition to funding, the ministry is working on the Abuja Creative City project, which seeks to transform the capital into a vibrant hub for the creative sector.
“This project is expected to foster economic growth, create job opportunities, and showcase Nigeria’s diverse cultural heritage.
The Minister also emphasized the importance of effective policy formulation to foster the growth of the creative sector. Currently, the Ministry is evaluating 49 sub-sectors within the creative industries, with priority given to key areas such as music, film, fashion, art, and gastronomy.
“This targeted approach is aimed at driving sustainable development and further enhancing Nigeria’s cultural and economic standing on the global stage.
“Through these initiatives, the Nigerian government is taking significant steps to harness the untapped potential of its creative industries, paving the way for a more dynamic and inclusive economy.
As part of this effort, the Ministry, in collaboration with the private sector and led by the Nigerian Economic Summit Group, is working on creating a clear policy framework not just for the creative economy but also for the art, culture, and tourism sectors.
The Nigerian government is working on a series of policy reforms National Intellectual Property Policy, which will soon be presented to the Federal Executive Council.
This policy aims to foster industry growth by securing intellectual property rights for creators. Additionally, the government is reviewing key policies such as the National Policy on Incentives for the Arts, Culture, and Creative Economy, which is designed to offer incentives and boost confidence among creative businesses.
Another important update is the review of the 2005 National Tourism Policy, intended to better support the tourism sector, which plays a crucial role in Nigeria’s cultural economy.
The government is updating the outdated 1988 National Policy on Culture and introducing a new Policy on Monetary and Credit Solutions to ensure financial support for creative businesses.
Alongside the Creative Economy Development Fund, these reforms aim to create a supportive environment for the sector to grow and position Nigeria as a major force in the global creative economy.
Musawa also announced the implementation of the Creative Economy Development Fund (CEDF), which aims to provide funding to creative businesses, drive innovation, and create jobs across multiple sectors.
Additionally, a global standard arena is under construction in Nigeria to host major music and cultural events, aligning with the country’s ambition to become Africa’s cultural hub.
