Nigerian Government pledges enhanced policy initiatives, funding for creative industry

*The Federal Government of Nigeria assures dedicated the Ministry for the Creatives industry and targeted investment will boost jobs, cultural diplomacy, and ensure global competitiveness

Isola Moses | ConsumerConnect

The Federal Government has reaffirmed President Bola Ahmed Tinubu’s commitment to strengthening Nigeria’s creative industry through sustained policy backing, increased investment, and an enabling business environment.

Mr. Temitope Ajayi, Senior Special Assistant (SSA) to the President on Media and Publicity, who stated this while speaking at the inaugural Creative Powerhouse Summit (QED-NG), held in Lagos, lauded the sector’s “remarkable” achievements over the past decade.

Ajayi acknowledged the sector of the Nigerian economy has promoted the country’s cultural heritage and positioned it as a global creative hub over the years.

The summit with the theme: “Financing as a Catalyst for a Thriving Creative Economy”, attracted stakeholders from film, music, fashion, arts, and technology to explore sustainable funding models and strengthen industry-investor linkages.

The Presidential aide said:

“President Tinubu has demonstrated his commitment to the creative sector by dedicating a full ministry to its development.

“The government will continue to support the industry with policies to ensure it grows in leaps and bounds.”

Ajayi, therefore, urged Nigerian creatives to embrace partnerships and actively engage with investors capable of scaling ideas into commercially viable ventures.

He further noted: “The graveyard is full of ideas that died with their creators, never seeing the light of day.”

He, however, cautioned that “without testing market viability and scalability, you cannot be sure your idea will change the world. It’s better to own 10% of something than 100% of nothing.”

Ajayi commended the organisers for fostering dialogue between industry leaders and investors.

According to him, with the right blend of government policy, private capital, and collaborative innovation, the creative industry will continue to generate jobs, strengthen Nigeria’s soft power, and consolidate the West African country’s place as Africa’s cultural capital.

Earlier in his welcome address, Olumide Iyanda, Convener of the summit, had said the event was designed to connect creative entrepreneurs with financiers and policymakers to unlock the sector’s full potential.

Iyanda averred: “The creative industry is one of Nigeria’s strongest export assets.

“Our goal is to bridge the funding gap and create the right environment for local talent to compete globally.”