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Nigeria’s creative sector is poised to become an economic powerhouse, adding $100 billion to GDP

The creative industry in Nigeria shows immense potential to transform the country’s economy and become its largest export sector, according to a top U.S. official. Speaking at a creative industry event in Lagos, Ramin Toloui, Assistant Secretary for the Bureau of Economic and Business Affairs at the U.S. Department of State, revealed that Nigeria’s creative sector could contribute up to $100 billion to the nation’s GDP by 2030.

Additionally, the industry could create approximately 2.7 million jobs for Nigeria’s youth by 2050. Globally, the cultural sector accounts for 3.1% of GDP, generating over $2 trillion in revenue annually and providing 50 million jobs, as per UNCTAD data.

Toloui praised the rapid growth and success of Nigeria’s creative industries, noting the increasing collaborations between Nigerian and American talents. He highlighted the growing interest of American actors in Nollywood and the rise of Nigerian musicians partnering with U.S. artists.

According to Toloui, “the rising demand has led to more African content exports via digital streaming and international tours, plus surging investments from Africa-based investors in early-stage creator economy startups.”

The optimistic outlook on the potential of Nigeria’s creative sector indicates it could become the country’s most significant export industry. By focusing on youth engagement, strategic collaborations, and leveraging global interest, Nigeria can unleash its creative economy to drive national growth and job creation.

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