Development of Nigeria’s creative economy

Efforts to develop Nigeria’s creative economy have moved from calls for professionalization toward formalizing international trade and investment frameworks.

Initially, industry leaders emphasized the need to transform African indigenous knowledge into sustainable economic value. During a conference hosted by the Society of Nigeria Theatre Artists, Dr. Taiwo Afolabi advocated for increased investment and the use of technology to document cultural heritage, suggesting that a professionalized sector could drive tourism and economic growth.

Subsequent developments show a focus on institutionalizing these industries. The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has reappointed leadership within its Creative Economy Trade Group and established a partnership with the University of Porto’s Migration Observatory Lab to transition sectors like music, film, and fashion into structured international trade frameworks.

Parallel discussions have highlighted the necessity of strengthening legal protections for investors. While mechanisms exist through the Nigerian Investment Promotion Commission (NIPC) Act, experts have noted that many bilateral investment treaties remain unratified or poorly implemented, identifying legal enforcement as a critical factor for global competitiveness.