Nigeria Targets $5bn Global Carnival Market, Says Shettima

The Vice President, Senator Kashim Shettima, has said that beyond just promoting the nation’s rich cultural heritage, the Nigerian carnival industry also has enormous potential to drive national unity and cohesion as well as empower the youths.

To this effect, he assured that the Nigerian government is positioning the country’s carnival industry to tap from the global carnival market, estimated at $5 billion, as a strategic lever for the nation’s economic growth.

Speaking on Wednesday during a meeting with a delegation from the Abuja International Carnival at the Presidential Villa, Shettima in a statement by his spokesman, Stanley Nkwocha underscored the immense potential of the $5 billion global carnival market to assist in Nigeria’s economic growth agenda.

“The value of the global carnival market is estimated at $5 billion. This underscores its potential to assist us in our economic growth agenda.

“Beyond promoting our rich cultural heritage, it is a driver for national unity and cohesion. We also have to look at the potential for economic value addition,” VP Shettima stated.

Shettima pledged the support of the administration of President Bola Tinubu to youth enterprises in the creative industry, saying it has the potential to drive employment and national cohesion.

He pointed to the success of major carnival events around the world such as the Rio de Janeiro Carnival, which attracts as many as 200 million visitors yearly, and the Calabar Carnival, which has become intertwined with the cultural heritage of the Efik/Ibibio people.

“The Abuja carnival used to be an even bigger event. I urge you to fast-track all efforts toward holding this event,” VP Shettima charged the delegation.

The Vice President also highlighted the government’s Investment in Digital and Creative Enterprises (iDICE) project, a $618 million initiative aimed at supporting the digital and creative industries, including the carnival sector.

Earlier, the Chief Executive Officer of the Abuja International Carnival, Kehinde Adegbite, expressed gratitude for the Vice President’s support, even as he outlined plans to partner with the Ministry of Art, Culture and the Creative Economy to revitalise the carnival.

“We met with the Minister of Art, Culture, and the Creative Economy, Hannatu Musawa, who is creative-driven and agreed that we partner with the ministry for the project. The carnival brings unity, empowers the youths, and helps discover talents,” he said.