Creative Economy: Stakeholders Underscore Factors Hindering Creative Industry Growth

Mary Nnah

Creative industry experts have underlined major issues affecting the growth of the creative sector in Nigeria.
According to them, these include piracy, lack of appreciation of intellectual property rights, lack of access to finance, poor distribution channels, low-quality standards, lack of monetisation of content and products, lack of equipment, lack of skills as well as lack of reliable data.

These assertions were made during the 2023 Creative Nigeria Summit held at the weekend in Lagos.
The event which had the theme, “Investing in Nigeria’s Creative Ecosystem: Unlocking Jobs and Economic Growth”, was presented by GEN Nigeria in partnership with the Enterprise Development Centre- Pan-Atlantic University.

Declaring the event open, Director, Enterprise Development Centre (EDC), Nneka Okekearu, said that the opportunities that exist in the creative sector and its contribution to the wealth and job creation as well as gross domestic product (GDP) cannot be over-stressed.

“We have to be well placed to tap these opportunities that are present in media, entertainment, beauty and lifestyle, visual art as well as tourism and hospitality because according to a report, the creative industry in Nigeria contributed $1.8 billion to Nigeria’s GDP in 2020.”

The keynote speaker Mr. Charles Odii, represented by Director, Enterprise Development and Promotion, SMEDAN, Monday Ewans, said, “While the creative industry does have its positives, Nigeria does not have strong laws to protect the piracy of material without the consent of the creator.”

He said Nigeria’s creative industry is thriving; however, the ability to sustain certain aspects of the industry falls short due to weak infrastructure. “Nigeria lacks amenities like steady power within the country to effectively grow the creative sector optimally,” he added.
On the role of government, Ewans said, “The government can facilitate startup or business support grants/loans, to entrepreneurs in the creative industry under a prescribed criterion.”

However, he said “It is important at this point to acknowledge the fact that the federal government had launched $618,000, 000fund early this year under the digital and creative enterprises, adding that “it is also important to ensure that all eligible entrepreneurs under this programme have unhindered access to the fund in order to achieve the desired objectives.”

Joshua Adedeji, Country Lead, Global Alliance African, who spoke on leveraging tech in a creative space said to address technology deficiency in the creative industry, people must be able to embrace tech wholesomely.

He advised the government to look again at the educational curriculum to introduce people to technology early.
“People are afraid of Artificial Intelligence but AI won’t take anyone’s job. Some jobs will disappear and new ones will emerge. We also need to look again at our educational system because we need to work a balance of learning and practical in schools,” he added.

The summit endeavours to unite industry experts, innovators, policymakers, and entrepreneurs in strategic conversations aimed at propelling Nigeria’s creative sector, fostering economic advancement, and creating abundant employment prospects.

The summit also facilitated dynamic discussions and interactive sessions encompassing examining creativity’s role in economic development, nurturing collaboration and partnerships in creative ventures, harnessing technology and innovation in the creative sphere, empowering diversity and inclusivity in creative industries embracing sustainable practices and predicting future trends in creative entrepreneurship.

Furthermore, the summit also served as a nexus for fostering collaborations and forging vital connections among stakeholders, igniting innovation and driving growth within the creative realm.