By Olayinka Akanbi
Nigeria’s creative economy continued in its stride to redefine the country’s global image and economic trajectory
In an era where music, film, fashion, and digital culture shape global conversations, Nigeria stands at the forefront, boasting one of the fastest-growing creative sectors in the world.
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Nollywood produces thousands of films annually, Afrobeats dominates international charts, and Nigerian fashion designers are regulars on global runways.
Yet for years, the industry’s full economic potential has been limited by funding gaps, infrastructure bottlenecks, and a fragmented policy environment.
Now, the Federal Government, through its Ministry of Art, Culture, Tourism, and the Creative Economy, is taking decisive action.
A bold set of interventions, unveiled in Q3 2025, sought to transform the sector into a structured, investment-ready ecosystem capable of creating millions of jobs and contributing significantly to national GDP.
These measures are not just domestic in focus; they are designed to attract foreign direct investment, deepen cultural diplomacy, and position Nigeria as the creative capital of the Global South.
Central to this drive is the rollout of a revitalised Creative Economy Development Fund (CEDF), supporting thousands of entrepreneurs and creative ventures nationwide.
In August, the Ministry announced the second phase of the Fund, which expands the programme’s scope and targets businesses seeking to unlock growth, scale innovation, and create sustainable jobs across multiple creative sub-sectors.
“This Phase 2 Call prioritizes proposals from businesses seeking funding of up to $100,000,” the ministry explained in a statement, adding that the fund is open to projects in film, television, and animation; gaming; XR and interactive media; music and entertainment; literature and publishing; visual arts and crafts; fashion and design; culinary arts and gastronomy; and tourism and heritage experiences, ensuring that no subsector is left behind in what it called Nigeria’s “creative renaissance”.
The ministry further noted that Phase 2 is designed to fuel innovation, create jobs, strengthen SMEs and MSMEs, drive exports, and institutionalise growth through digital tracking and reporting tools.
By providing access to finance, skills, and market opportunities, the government hopes to accelerate the growth of Nigeria’s creative and cultural industries and formalise their contribution to the national economy.
This renewed commitment has also come with an explicit invitation to global investors. During the Creative Economy Week 2025, FMACCE Permanent Secretary Mukhtar Mohammed highlighted the sector’s projected potential and called on local and foreign stakeholders to seize the emerging opportunities in arts, culture, tourism, and entertainment.
“To the international community and global investors watching, the Nigerian creative industry is open for business.
It is a secure, high-yield frontier for strategic investment,” he said, signalling that the government is serious about making the sector globally attractive.
This vision of a globally engaged creative economy is being reinforced through strategic cultural partnerships.
Nigeria reaffirmed its commitment to the All Africa Music Awards (AFRIMA), which attracts artists, media, and fans from across the continent and is widely considered Africa’s biggest music event.
Scheduled to take place in Lagos from November 25 to 30, AFRIMA 2025 will feature the Africa Music Business Summit, the Music Village Concert, the Nominees Party, and the Awards Ceremony, which will be broadcast in over 84 countries.
The government sees AFRIMA as a tool for destination marketing and soft-power diplomacy.
Minister of Art, Culture, and the Creative Economy Hannatu Musawa, while speaking at a “Patron’s Dinner with the Jury” organised by AFRIMA, restated that the “creative industry holds the key to our nation’s future, and AFRIMA is a vital part of that journey.”
The government is also pursuing innovation through digital partnerships. It recently signed a Memorandum of Understanding with SOOP, a global digital media platform, to co-create immersive cultural experiences using augmented and virtual reality (AR/VR).
The initiative will digitise heritage monuments and allow tourists to experience Nigerian culture virtually before arriving in the country, a move that industry watchers believe could redefine cultural tourism.
In a related development, the FMACCE also partnered with iCode, a global content distribution network with operations in more than 70 countries, to showcase Nigerian culture at international expos, streaming platforms, and cultural diplomacy events.
According to the ministry, the partnership seeks to integrate culture into technology, making Nigeria’s heritage and creative stories more accessible to global audiences while opening new revenue streams for artists and producers.
With these moves, Nigeria is clearly signalling that culture is no longer a side-show but a strategic economic pillar.
The combined effect of financing, partnerships, and global positioning could unlock jobs for millions and boost GDP contribution in the years ahead.
Also read: Nigerian Designers Step into the Global Spotlight At AFWL 2025
Yet, industry stakeholders insist that execution will be the ultimate test. “Funding is critical, but we must also fix distribution bottlenecks, piracy, and infrastructure gaps,” as filmmaker Akinola Davies Jr. aptly put it in a recent interview. “If we get it right, Nigeria can be the creative capital of the Global South.”
