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3 clusters · 12 sources · 26 days · First seen · Last updated

Nigeria creative and industrial sector development

Overview

Nigeria is experiencing growth in its creative and industrial sectors. The World Intellectual Property Organization (WIPO) has noted the international success of sectors like Afrobeats and Nollywood, though officials warned that digital transformation has made piracy a “sophisticated, borderless enterprise” that poses cybersecurity risks. Dr. Oluwatobiloba Moody, Director of the WIPO Nigeria Office, noted that illicit digital platforms can expose users to malware and disrupt digital infrastructure, prompting calls for a national response action plan involving law enforcement and telecommunications.

In the creative economy, industry leaders are advocating for a shift toward intellectual property (IP) ownership. At the PluggedIN event in Lagos, stakeholders emphasized that digital creators should be treated as IP owners capable of developing original content rather than just influencers. To support this, the Bank of Industry is providing financial assistance through the Investment in Digital and Creative Enterprises (iDICE) programme. The BOI–iDICE Debt Fund offers loans between ₦10 million and ₦1 billion to help film producers, music entrepreneurs, and fashion designers expand operations and access distribution networks.

Efforts to strengthen domestic capabilities are also evident in the energy sector, where the Local Content Act of 2010 has helped increase Nigerian content in the oil and gas industry to 56% by the end of 2023. This shift has reportedly created over 50,000 jobs and retained significant annual expenditure within the national economy.

Entities

Nigerian Content Development and Monitoring Board · Olawumi Fajemirokun · Insight Redefini · Oluwatobiloba Moody · Babatunde Olaifa

Timeline

  1. [BUSINESS] 7 sources
    Nigeria's creative economy focuses on IP ownership and financing

    Nigerian creative professionals are pushing for stronger IP ownership and long-term brand partnerships, supported by BOI–iDICE loan opportunities ranging from ₦10 million to ₦1 billion.

  2. [BUSINESS] 2 sources
    Nigeria advances domestic industrial and creative capabilities

    Nigeria is advancing its domestic capabilities in both the energy and creative sectors, with local content in oil and gas reaching 56% and new media initiatives aiming to globalize Nigerian storytelling.

  3. [BUSINESS] 3 sources
    Nigeria’s creative and digital economy seeing global growth, says WIPO

    WIPO Director Oluwatobiloba Moody highlighted the global boom of Nigeria’s creative economy while warning that digital piracy has evolved into a sophisticated cybersecurity threat.

Sources

blueprint.ng · businessday.ng · iroyinyorubatv.com.ng · milanobiz.it · nannews.ng · nigeriancurrent.com · oguntoday.com.ng · orientalnewsng.com · realnewsmagazine.net · thenicheng.com · von.gov.ng · withinnigeria.com

This summary has been updated 1 time: see revision history