FG taps into creative industry for job creation

Joseph Inokotong, Abuja

The Federal Ministry of Industry, Trade and Investment has said that the creative industry will be its focus for interventions, investments and partnerships for job creation for Nigerians.

The Minister, Mrs. Aisha Abubakar, said this at the Creative Entrepreneurs Summit with the theme: “Cashing in on your creativity.”

Abubakar, represented by the Director of Administration in the ministry, Dr. Adewale Bakare, said part of the plans of the President Muhammadu Buhari-led administration was to drive the nation’s creative industry.

She said that government plans to support and create an enabling environment through partnership with the private sector and the global community to attain its full potential.

“The Nigerian creative industry has the fastest growth rate in the world and has seen a period of rapid growth spurred by emerging digital technology, which support content creation, distribution and consumption.

“According to the International Monetary Fund (IMF), Nollywood is the second biggest employer in Nigeria engaging over a million persons. The significance of the Nigerian film and television industry came into focus after the rebasing of the national economy in 2013.

“The film sector was seen to contribute 1.42 per cent to the economy and by 2016, the film industry sector contributed 2.3 per cent (N239 billion) of Nigeria’s Gross Domestic Product (GDP).

“As a result of the industry’s financial potential and job creation capacity, the industry became a focus for interventions, investments, and partnerships which we are looking into,” the minister said.

Abubakar urged Nigerians to take advantage of the abundant opportunities in the creative industry for profitability and sustainable economic development of the nation.

Besides, the minister said business advisory services would be provided for SMEs within the sector.

“These services will include, structuring of business plans to increase access to funding and foreign direct investment and establishing an equipment-leasing outfits.

“In addition, providing training and capacity building for industry actors and improving the use of technology platforms (e.g. Iroko, Netflix) to enhance distribution,” she said.

In addressing the music industry, the minister said that the cultural wealth of Nigeria’s entertainment industry remained dominant in spite of westernization and urbanization.

“Musicians in the industry intertwine African cultural themes by infusing traditional styles into modern music creation and production.

This has generated a unique profile for the industry and fueled its popularity, giving the Nigerian music world-wide recognition.

“The lucrativeness of the industry, as well as the enabling environment it provides for all genres to thrive, is noteworthy,” she stated.

Speaking on the Nigerian Information Technology (IT) industry, she said that Nigeria had continued to grow exponentially in digital an adaptation and technology use.

“UNICON Industry Fact Sheet estimates the global market for video games, e-sports, animation, and VFX as falling between $150 and $254 billion depending on market segmentation.

“With a mobile penetration rate of 84%, the Nigerian tech market is yet to be fully exploited,” the minister said.