The Minister of Information and Culture, Alhaji Lai Mohammed said on Sunday the Federal Government plans to inject N50 billion into the creative industry to help the industry survive.
The minister disclosed this at the All Africa Music Awards (AFRIMA) held at the Eko Hotel and Suites, Victoria Island, Lagos.
Mohammed also said the government would commercialise the creative industry in Nigeria.
He said the government knew that a lot went into the making of industry and had resolved to prioritise comercialisation of the creative industry.
He said: “A lot goes into making an industry; from the creative industry to the artiste, the managers, platforms, sponsors, agents, marketers, investors and award concerts like this.
“As we move into 2020, the successful commercialisation of the creative industry is our number one priority because it will create jobs.
“It will also reduce crime, be a major source of foreign exchange and thereby reduce our dependence on oil.
“We in government are tackling all impediments in the industry.
“We are making cheaper and longer terms finance available for the industry, especially for infrastructure like concert halls across the city in the federation.
“The issues that have plagued the country have now being put on the front burner by the Attorney-General.
“There will be no more excuses; the use of music must be paid for.
“The other big issue is the commercialisation of the digital economy. Data must be cheaper and owners of content must make their money from the use of their works.”