Veteran Nigerian musician, D’Banj, has stipulated that the Nigerian Creative Industry (which the entertainment industry is part of) is a bigger and better export than the Oil Industry.
The Oil Industry is Nigeria’s major source of foreign exchange incomes and government revenues, but D’Banj feels the Creative Industry can generate more income for the Sub Saharan Africa’s country.
D’Banj said this while advocating for the use of intellectual property as collateral to access bank loans. The singer who spoke through his manager, Damian Okoroafor, stated that;
“Our creative industry is a bigger and better export than the oil industry. So, there is the need for more access to stress-free funds for those in the creative industry, using their intellectual property as collateral.
“When you look around the world, one of our biggest exports is the creative sector, thanks to our music, movies and photos.
“So, WAYEF is another opportunity to fully throw some weight behind the creative industry, through capacity training or access to funds.”
‘Koko Master’s’ manager spoke on his behalf at the launching of the Nigerian Export-Import Bank’s Women and Youth Export Fund (WAYEF) in Abuja.