Creative Industry

Minister Calls For Increased Investment In Nigeria Creative Economy

Published

1 year ago

October 7, 2025

Joel Ajayi
The Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musa Musawa, has called on stakeholders to increase investment in the country’s creative sector.

Speaking at the 31st Nigerian Economic Summit in Abuja on Tuesday, Minister Musawa emphasized the sector’s potential to drive inclusive growth, generate employment, and enhance global competitiveness.

She said that recent statistics show that the creative economy in Nigeria currently contributes approximately 2.3% to the national GDP and employs over 4.2 million people across various sectors. Musawa highlighted the sector’s growth potential, citing the success of Nollywood, the Nigerian fashion industry, and the Afrobeats music genre.

“We must create an environment that attracts both local and international investors to our creative industries. This requires not only financial incentives but also a strong regulatory framework that ensures transparency, accountability, and ease of doing business,” Minister Musawa said.

The Minister also identified challenges facing the sector, including limited access to funding, inadequate infrastructure, and regulatory and policy challenges. She urged financial institutions to develop financial instruments tailored to the unique needs of the creative sector and called for increased investment in infrastructure and skills development.

“I urge those present who represent the formal financial sector, to start to make considerations for the unique nature of our sector and its products,” the Minister stated.

Musawa emphasized the need for a supportive and enabling regulatory environment that fosters innovation and creativity. She assured

stakeholders that the ministry would continue to drive changes in regulatory and policy frameworks to support the industry.

“Together, we can build a future where creativity and innovation drive sustainable economic growth and cultural prosperity for Nigeria. As Omoyemi Akerele, Founder and CEO of Lagos Fashion Week and Style House Files, once said, ‘The creative economy is not just about entertainment; it’s about creating a sustainable ecosystem that empowers our talents and showcases our rich cultural heritage to the world,'” Minister Musawa concluded.

The workshop, themed “Building Productive Sectors: Investing in the Creative Economy,” brought together key stakeholders, private sector investors, and creative entrepreneurs to discuss ways to harness the potential of the creative economy and build a robust and productive sector.

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Creative Industry

NTDA, LEXLUC Sign MoU to Unlock Nigeria’s Domestic Tourism Potential

Published

5 hours ago

October 23, 2026

The Gleamer

Cyril Ogar

The Nigerian Tourism Development Authority (NTDA) has signed a Memorandum of Understanding (MoU) with LEXLUC Global Services and Tours Ltd. to promote domestic tourism, cultural heritage and destination awareness across Nigeria.

The agreement establishes a framework for implementing and expanding the Meet My Town, Know My State tourism initiative, which aims to encourage Nigerians to explore destinations within the country, learn about their cultural heritage and support greater community participation in tourism.

Speaking at the signing, Chief Executive Officer of LEXLUC Global Services and Tours Ltd., Mr Oluwole Ajayi, said the initiative was developed to help Nigeria harness its tourism potential, attract investment and create more opportunities within the sector.

“Tourism is number one employer worldwide. Whether we like it or not, we have to key into it and make sure it becomes the number one employer in Nigeria, too,” Ajayi said.

He also referenced plans for a proposed West African Jollof Rice Championship and Tourism Festival, which he said could complement the initiative’s broader objectives. The proposed event is expected to form part of future tourism activities, subject to the necessary planning and approvals.

Ajayi expressed confidence that the collaboration with NTDA would help advance the initiative and attract investors to Nigeria’s tourism industry.

Director-General of NTDA, Mr Ola Awakan, said the partnership alignes with the authority’s mandate to promote and develop tourism, noting that collaboration with the private sector was important to the sector’s growth.

“It’s a laudable project. We are going to give you national and institutional backing. You are also helping us achieve our mandate, and we are helping you to bring your idea to fruition. So, it is a win-win situation. All of this is in the interest of Nigeria,” Awakan said.

He commended Ajayi for sustaining the initiative and reaffirmed NTDA’s commitment to supporting its objectives within the authority’s mandate.

The Meet My Town, Know My State initiative is designed to raise awareness of Nigeria’s destinations, promote cultural heritage and encourage domestic travel. Its activities may include organised tours, tourism education, awareness campaigns, events and stakeholder engagements across the country.

Under the MoU, LEXLUC will coordinate and implement approved activities, develop tourism packages, mobilise sponsorship and partnerships, and report on progress. NTDA will provide relevant tourism information, institutional coordination, policy guidance and support for stakeholder engagement, subject to its mandate and applicable approval processes.

The signing was coordinated by Head of Legal Services at NTDA, Olufunke Soleye, and Head of Legal at LEXLUC, Mary Oluwatoyin Noibi-Edoze. Director of the Marketing and Promotions Department at NTDA, Mr Olufemi Akinyele, was also present alongside staff members of the department.

The agreement establishes a framework for cooperation between the two organisations to expand awareness of Nigeria’s tourism offerings and encourage greater participation in domestic tourism.

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