- The Nigerian Ministry of Arts, Culture, and Creative Economy secured a $200 million investment from Afreximbank to boost the creative industry
- This funding aims to support Nigeria’s “Destination 2030” initiative, which seeks to create 2 million jobs and enhance cultural influence
In a significant step to enhance Nigeria’s creative economy, the Ministry of Arts, Culture, and the Creative Economy has secured a $200 million financing facility from the African Export-Import Bank (Afrexim) during the “Destination 2030: Nigeria Everywhere” event held at the United Nations General Assembly (UNGA) in New York.
The partnership, announced by AfreximBank President Professor Benedict Oramah, aims to strengthen Nigeria’s burgeoning creative economy. This is in line with the government’s goal of creating 2 million jobs and contributing $100 billion to the nation’s GDP by 2030.
Professor Oramah highlighted the importance of leveraging Nigeria’s cultural assets for economic growth, stating that the country’s global cultural influence can be enhanced through initiatives such as “Destination 2030.”
He also noted that projects like revitalising the National Theatre and the CLAP initiative, which nurtures young talent, are key to positioning Nigeria as a global creative powerhouse.
In her keynote speech, Minister of Arts, Culture, and the Creative Economy Hannatu Musawa emphasized the value of global partnerships in achieving the country’s ambitious goals.
She called on investors, development partners, and international collaborators to support Nigeria’s vision of creating millions of jobs and driving economic growth through its cultural assets.