Creative Economy Is Nigeria’s New Oil — Musawa

Minister of Arts, Culture and the Creative Economy, Hannatu Musawa, has said that the creative industry is Nigeria’s ‘new oil’ as the nation seeks to diversify its revenue and economy.

The minister stated this in her keynote address at the opening of the 2024 management retreat for the ministry workers and its agencies in Abuja.

The two-day retreat with the theme, ‘Driving Creativity and Innovation Towards Destination 2030’, had in attendance heads of agencies under the ministry, and stakeholders in the creative sector.

According to Musawa, as the nation grapples with economic challenges and seeks to diversify its economy, the creative economy was a robust alternative that should be explored.

She said the ministry under her watch has unveiled a roadmap to ensure that the sector creates two million jobs by 2027 and attracts $100 billion to GDP by 2030.

“As a nation, we are trying to diversify from oil, and the creative economy is a strong alternative as the new oil because the future of the country depends on the creative sector.

“Nigerian creatives all over the world are doing great things and that is why our ministry is set to be a beacon of creativity, innovation, and inclusivity.

“We play a critical role in shaping the creative and cultural landscape of our nation while promoting and preserving Nigeria’s rich cultural heritage.

“Since the establishment of the Ministry by President Bola Tinubu, we have witnessed remarkable achievements and milestones, thanks to the dedication and passion of our predecessors and key stakeholders within the sector.

“From the establishment of cultural institutions to the implementation of landmark Policies, Project and Programmes, our Ministry has been and will continue to be at the forefront of driving positive change and transformation,” she said.

Musawa said that the ministry was committed to aligning itself with the Presidential Priorities set forth by President Bola Tinubu for Ministers, Aides, Permanent Secretaries and top government functionaries in November 2023.

According to her, the priorities included reforming the economy to deliver sustained inclusive growth, strengthening national security for peace and prosperity, boosting agriculture to achieve food security, among others.

“The Art, Culture, and the Creative Economy sectors have a crucial role to play in achieving these priorities and are critical drivers of economic growth and job creation.

“By ensuring the development and continued investment in these sectors, we can harness their potential to stimulate innovation, promote entrepreneurship and attract investments, thereby contributing to the diversification and resilience of our economy.

“We are committed to working together to ensure that the efforts made to birth the Ministry of Art, Culture and Creative Economy are consolidated and institutionalised.

“This retreat serves as a platform for us to collectively assess our progress, identify challenges and chart a course for the attainment of the Ministerial Deliverables as executed in our Performance Bond.

“It provides us an opportunity to strengthen our bond as a high-level leadership team, to share best practices, and to develop innovative strategies that will propel our ministry and its agencies forward,” she said.

In his her goodwill message, the Special Adviser to the President on Policy and Coordination, Ms Hadiza Bala Usman, commended the leadership of the ministry for organising the retreat.

Usman, who was represented by Dr Sanusi Ohiare, said the initiative was an indication that the ministry was committed to ensuring that the creative economy serves as a viable source of revenue.

“It is a matter of unique pleasure for me to be here given the urgent need for Nigeria to diversify its economy and the pivotal role this ministry play in the achievements of this imperative.

“It is a clarion call to all Nigerians, especially those of us who are privileged to serve in our current respective capacities, to unlock the boundless potential of our nation’s creative prowess.

“The creative economy is a fountain of opportunities, a wellspring of economic growth, and a catalyst for societal transformation.

“It is a testament to the ingenuity of our people, the richness of our cultural heritage and the boundless imagination that defines our nation,” she stated.