​‌‍‌‌⁠‍⁠⁠‍‌⁠By Vivian Emoni

The Federal Government is implementing policies and investment initiatives to strengthen Nigeria’s creative economy, attract capital and ensure creatives retain more profits from their intellectual property.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this at the Creative Africa Nexus (CANEX WKND 2026), in Lagos on Thursday.

Oduwole said Nigeria began its journey to host the 2027 Intra-African Trade Fair in November 2024, following President Bola Tinubu’s approval of the country’s bid.

She said the bid was strategically linked to the 50th anniversary of the Second World Black and African Festival of Arts and Culture (FESTAC ’77).

The minister said Nigeria’s creative sector had recorded significant growth over two decades, with Nigerian musicians, filmmakers and other creatives achieving international recognition.

She cited the success of Nigerian artistes and filmmakers, including Davido, Burna Boy and Funke Akindele, whose film generated over two billion naira at the Nigerian box office.

According to her, the government wants more creative businesses to attract investment while ensuring that greater profits remain within Nigeria.

“The Tinubu administration had taken deliberate steps to strengthen the ecosystem and create opportunities for businesses across the creative industry,” she said.

Oduwole said Nigeria was named co-champion of the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade in February 2025.

She explained that the protocol would support trade in creative services, including music licensing, film distribution and production services across the continent.

The minister said the Federal Executive Council approved Nigeria’s first National Intellectual Property Policy and Strategy in November 2025.

She said that the policy developed by the ministry in collaboration with stakeholders across government and the private sector.

According to her, the policy is designed to help Nigerians protect their intellectual property and generate income from their creative works.

“Nigeria also unveiled its Creative Sector Investment Playbook at the World Economic Forum in Davos in January 2026.

She said the playbook identifies investment opportunities across the creative industry, including studio financing and nationwide distribution of Nigerian content.

The minister said the Federal Government was also unlocking more than 600 million dollars in financing for digital and creative enterprises through the Investment in Digital and Creative Enterprises (IDICE) programme.

She attributed the initiative to the leadership of the Office of the Vice-President and the Bank of Industry.

“The government’s ambition is to attract investment across performing arts, film, literature, gastronomy, fashion, sports, gaming, crafts and creative technology.

“The initiative was designed to create employment opportunities, strengthen the economy and promote shared prosperity among Nigerians.

The minister commended President Tinubu, Vice-President Kashim Shettima, the Lagos State Government and members of the organising committees for supporting Nigeria’s hosting bid.

She also acknowledged Afreximbank and other partners for their contributions to the successful organisation of the event.

Oduwole said the event recorded significant participation, with registration stopped after reaching 17,000 people, compared with 6,000 attendees at the previous edition.

She expressed appreciation to participants and stakeholders, describing the event as a major achievement for Nigeria’s creative economy.

The Lagos State Governor, Babajide Sanwo-Olu, described the creative economy as a major source of employment and investment opportunities, urging African creators to protect and commercialise their intellectual property.

He said Lagos had invested in theatres, cultural centres and creative events to support talents and strengthen the state’s creative industry.

He urged young creators to register, protect and properly price their works to attract investment and ensure they benefit financially. (NAN)www.nannews.ng

Edited by Vivian Ihechu