On January 18, 2025, the Theater Arts and Motion Pictures Practitioners of Nigeria (TAMPAN) revealed that the creative industry could contribute approximately N154 billion (about $197.6 million) to Nigeria's GDP. Global President Bolaji Amusan highlighted the necessity for government support to fully harness this potential during a press conference in Abeokuta, ahead of the upcoming national conference 'EKO 2025' scheduled for February 19-22, 2025 [3d6a78b6].
This announcement comes in the context of Nigeria's broader strategy to boost its economy through the creative sector, which is already a significant contributor. Earlier, on December 7, 2024, the Federal Government, through Minister of Arts, Culture and Creative Economy, Hannatu Musawa, reaffirmed its commitment to generating $100 billion from the creative economy, aiming to create and sustain two million jobs [d7a79468]. This initiative is part of President Bola Tinubu's economic diversification plan, which includes key policies such as the National Intellectual Property Policy and Strategy, and the National Cultural Policy [d7a79468].
In 2023, the motion picture and music recordings sectors were instrumental in this GDP contribution, with Netflix supporting 5,140 jobs and investing over $23 million in the Nigerian film industry. The Nigerian box office saw revenues grow from N4.74 billion in 2021 to N7.24 billion in 2023, generating a total of N19 billion from 2021 to 2023 [3d6a78b6]. Currently, the creative sector employs about 4.2 million people and has the potential to create an additional 2.7 million jobs in the next four to five years if adequately supported [3d6a78b6].
The government's dual focus on the creative economy and tourism, as seen in the introduction of the 'Draft National Tourism Policy' on August 25, 2024, further emphasizes the importance of these sectors in driving economic growth. The tourism policy aims to enhance Nigeria's global tourism standing and is set for finalization in October 2024, with projections indicating significant revenue potential [9ab25d2a].
Overall, the insights from TAMPAN and the government's initiatives reflect a concerted effort to leverage Nigeria's rich cultural heritage and creative talents to stimulate economic growth and job creation, marking a pivotal moment for the nation's economy [d7a79468].