Nigeria targets creative sector to drive $1tn economic goal

Nigeria is aiming to leverage its creative sector to drive economic diversification and support President Bola Tinubu’s goal of reaching a $1 trillion economy by 2030. The creative industry, often referred to as the ‘orange economy,’ currently contributes approximately 2.3% to the nation's GDP.

Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa, stated that the government has set a target for the sector to contribute N100 billion to the GDP and create 2 million jobs by 2030. To achieve this, the Ministry has inaugurated four committees focused on policy, strategy, stakeholder engagement, and monitoring to build the necessary institutional and financial architecture.

Former Minister of Information and Culture, Lai Mohammed, described the creative industry—including film, music, fashion, and sports—as Nigeria’s ‘next oil’ due to its potential for employment and investment. The National Institute for Policy and Strategic Studies (NIPSS) is collaborating with the Ministry to host a National Summit and Exhibition on the Orange Economy to develop these strategic frameworks.