We’re facilitating $100bn investment opportunities for creative industry players – Minister Musawa

The Minister of Arts, Culture and Creative Economy, Hannatu Musa Musawa, has said the the Ministry is creating opportunities in the creative and cultural economy value chain through policies that enable the business environment.

The minister, in an interview with journalists, said the President Bola Tinubu administration is intentional about ensuring that a large chunk of the global market share of over $1 trillion come into Nigeria’s creative industry in line with the Renewed Hope Agenda.

“We are currently embarking on public private partnerships and have signed partnerships with the Nigerian Economic Summit Group (NESG) to accelerate the process of attracting innovative funding pool for players in the creative eco-system,” she said.

Musawa further said that the Ministry is working with BigWin philanthropy, major international development partner, to deliver a transformative job creation and industry strategy.

According to the minister, the Ministry was drawn to work with Big Win because of the organization’s achievement in providing 500,000 Rwandan youths with digital skills, as well as creation of a million sustainable jobs in Cote d’Ivoire.

She further revealed that the Ministry is implementing four key components to deliver two million jobs in the creative economy through the ‘BigWin partnerships’.

“Firstly, there is the implementation of a job creation strategy that leverages regulatory frameworks, strategic investments, partnerships, and fiscal incentives as the strategy will maximise job creation potentials within,” she said.

She further disclosed that the Ministry is currently exploring the Federal Government’s commitments under the African Continental Free Trade Area, AFCTA, and broader economic expansion initiatives to expand Nigeria’s opportunities in Africa’s $3.4 billion creative market.

Musawa also affirmed ongoing partnerships with critical creative economy eco-system developers such as the Bank of Industry, BoI.

“As a body that primarily supports the enabling of the private sector, the Ministry’s relationship with the BoI will be critical in developing the creative economy by providing incentives, resources and support to attract and retain investments in the creative industries,” she said.

The minister added that the revitalisation of the National Theatre and transformation of its surrounding areas is enhancing the creative industry eco-system and facilitating opportunities in performance spaces, exhibition centres, creative hubs and recreational centers.

“Artists, performers and entrepreneurs are already talking to us to explore economic opportunities at the National Theatre,” she said.

According to the minister, the revitalisation of the National Theatre would create opportunities for thousands of Nigerians in the creative industry value chain.

We’re facilitating $100bn investment opportunities for creative industry players – Minister Musawa