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2 clusters · 6 sources · 5 days · First seen 9 days ago · Last updated 4 days ago

Nigeria creative economy development and policy

Overview

The Nigerian government has identified the creative sector, or ‘orange economy’, as a primary driver for economic diversification to support a goal of reaching a $1 trillion economy by 2030. To facilitate this, the Ministry of Art, Culture, Tourism and Creative Economy has established committees to develop policy, strategy, and financial architecture, aiming to create 2 million jobs and increase the sector’s GDP contribution.

As the sector seeks projected annual growth of 8.6 percent through 2028, industry stakeholders have raised concerns regarding weak intellectual property protections. Experts highlight that widespread copyright infringement and inadequate registration services threaten the ability of creators to monetize their work. Proposed reforms include copyright levy changes to direct 50 percent of collections to rights owners and the establishment of the Creative Infrastructure Trust Company (CITco) to support the ecosystem.

Entities

Nigeria · Hannatu Musawa · Development Research and Projects Centre · Lai Mohammed · Creative Infrastructure Trust Company

Timeline

4 days ago

[BUSINESS] 3 sources
Nigeria’s creative economy faces risks from weak copyright protections
Nigeria’s N1.97 trillion creative economy faces risks from weak copyright protections, prompting calls for reforms to ensure fair royalty distribution across the entire creative ecosystem.
9 days ago

[BUSINESS] 3 sources
Nigeria targets creative sector to drive $1tn economic goal
Nigeria aims to boost its economy to $1 trillion by 2030 by expanding its creative sector, targeting 2 million jobs and a significant GDP contribution through new policy and strategic summits.

Sources

atqnews.com · brainnewspaper.com · businessday.ng · phenomenal.com.ng · premiumtimesng.com · qed.ng