Nigeria advances domestic industrial and creative capabilities

Nigeria is seeing significant growth in domestic industrial and creative capabilities. In the energy sector, the implementation of the Local Content Act of 2010 has shifted the focus from foreign dependence to building local technical expertise and infrastructure. According to the Nigerian Content Development and Monitoring Board, Nigerian content in the oil and gas industry reached 56% by the end of 2023, a substantial increase from less than 5% in 2010. This shift has reportedly created over 50,000 direct jobs and retained more than $8 billion in annual oil and gas expenditure within the national economy.

Simultaneously, the Nigerian creative economy is expanding through efforts to globalize local storytelling. Media production company Come On Naija, led by CEO Olawumi Fajemirokun, is working to transform Nigerian cultural experiences and historical narratives into high-quality intellectual property. The company aims to bridge the gap between undocumented local stories and the production standards required to attract international audiences through filmmaking and strategic creative partnerships.