Nigeria to invest N50bn in creative industry

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Minister of Information and Culture, Lai Mohammed

The Nigerian government plans to invest N50 billion in the creative industry to effectively  play its role in  the nation’s development.

The Minister of Information and Culture, Alhaji Lai Mohammed disclosed  this at the All Africa Music Awards (AFRIMA) ceremony in Lagos.

Mohammed also said government was set to commercialise the creative industry in Nigeria.

He said government knew that a lot went into the making of an industry and as such, it had resolved to prioritise commercialisation of the creative industry.

Create Jobs

The Minister said the investment would also aid job creation for Nigeria.

“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,” he said.

The minister also said that together with the Minister for Communication, government would clean up the advertising.