Creative Sector can Generate $100bn in 2030, NESG Says

The Nigeria Economic Summit Group (NESG) has stated that the country can increase the contribution of the creative industries to its gross domestic product by 2030.

It also disclosed that global exports in the creative sector grew from $490bn in 2010 to $1.4trn in 2022.

This was disclosed during the National Focus Group Forum on Nigeria’s Culture Sector convened by the NESG in collaboration with the Federal Ministry of Arts, Culture, Tourism and the Creative Economy (FMACETC) and the United Nations Educational, Scientific and Cultural Organisation (UNESCO).

In her presentation, Goodness Ejim-Obilo, Thematic Lead, Cultural Industries Thematic Group (CITG), NESG said, “The global exports of creative services increased from $490 billion in 2010 to nearly $1.4 trillion in 2022, highlighting the potential for Nigeria’s creative sector to increase its GDP contribution to $100 billion by 2030 and create two million new jobs by 2027.”

Yinka Iyinolakan Founder/CEO, C-Dial noted that there is a need to tackle the digital divide in Nigeria’s creative industry, stressing the need to integrate indigenous languages into technology.

He also cited ongoing efforts to develop voice recognition models for Nigerian languages such as Hausa, Yoruba, Pidgin, and Fulfulde.

The event brought together policymakers, industry leaders, creatives, and cultural advocates to explore strategies for unlocking the vast economic potential of Nigeria’s cultural and creative industries.