Popular Nigerian comedian KO-Baba has called on government at all levels to invest in the creative industry as it is currently being neglected.
KO-Baba in a statement outlined the benefits of investing in the creative space on the economy and Nigerians.
According to him, the entertainment and creative economy sectors in Nigeria are essential for fostering job creation, economic expansion, and cultural preservation.
His statement reads,
“Yesterday, I discussed with some friends how the entertainment and creative economy were neglected by all levels of our government. The impact of this sector is minimized and everything is left up to chance. I decided to research the reasons why the Nigerian government ought to fund the entertainment and creative economy after I woke up.“
“The entertainment and creative economy sectors in Nigeria are essential for fostering job creation, economic expansion, and cultural preservation. This sector, encompassing film, music, fashion, art, and digital content, contributes billions of naira to the GDP but remains underutilized due to limited government support. The following are the main justifications for investing in this booming sector:
Job Creation and Youth Empowerment
With over 60% of Nigeria’s population under 25 and high youth unemployment, the creative economy can provide substantial job opportunities. By investing in infrastructure and training programs, the government can empower millions with sustainable livelihoods.
Economic Growth
The entertainment sector significantly boosts Nigeria’s economy. Nollywood, the second-largest film industry globally, generates over $1 billion annually. By investing strategically, the government can enhance foreign exchange earnings and diversify the economy beyond oil.
Cultural Diplomacy
Nigeria’s rich cultural heritage is a powerful export. Supporting Nollywood, Afrobeats, and fashion enhances Nigeria’s global presence and fosters cultural diplomacy.
Innovation and Technology
The creative economy thrives on innovation. Government support can nurture tech startups and creative hubs, positioning Nigeria as a leader in Africa’s digital transformation.
Cultural Heritage Preservation
Investment can help document and preserve local traditions as globalization intensifies, ensuring that the country’s diverse cultural expressions are celebrated and passed on to future generations.
Increased Tax Revenue
A robust entertainment industry can enhance government revenues through taxation, provided there is formalization and support to reduce piracy.
Addressing Social Issues
Creative expressions can tackle social issues, and partnerships with the government can amplify these messages for societal change.
Recommendations for Government Action:
– Establish a Creative Industry Development Fund.
– Invest in studios and creative hubs.
– Enforce copyright laws to protect intellectual property.
– Offer vocational training programs.
– Implement tax incentives to attract investment.
Conclusion
“Investing in Nigeria’s creative economy is not just about art and culture; it is a vital investment in the country’s future, promising to tackle unemployment, diversify the economy, and enhance global standing. It’s time to nurture Nigeria’s creative talents for the benefit of all.“
