Adenike Akinyemi Shares Thought on How Event Industry Contributes to Nigeria’s GDP

In the context of Nigeria’s economic landscape, Adenike Akinyemi, CEO Kolony Events and Designs, highlights the significant contribution of the Event Industry to Nigeria Gross Domestic Product (GDP) without a doubt.

She emphasizes its impact on job creation, economic growth, and cultural enrichment.

According to her, the diversity within Nigeria’s event industry provides a range of employment opportunities, spanning roles from event organizers to caterers, decorators, entertainers, and security.

“The Bureau of Labour Statistics projects a robust 10% growth in the event planning sector from 2023 to 2033, surpassing the average growth rate across all occupations.”

As the brain behind Kolony Events and Designs, Akinyemi an award winning entrepreneur has 13 years of experience in the thriving event industry and provides excellent services to premium clients across different expressions as Event management, timeless designs, rentals among others.

The brand has handled projects for clients such as NNPC, HP, Lagos government parastatals, and high networth individuals.

Akinyemi who is the convener of “Decor Upgrade” acknowledges the role of the Lagos State Ministry of Tourism in supporting events organized by industry associations like APPOEMN and AMBCN. This support, she says, has translated into a positive impact on the economy, drawing visitors from different regions and nations.

“This influx of visitors stimulates the tourism sector, contributing to increased revenue for local businesses such as restaurants, hotels, and transportation firms.”

The entrepreneur added that beyond their immediate economic impact, events serve as effective tools for marketing, branding, and economic stimulus.

“Large international conferences, for example, not only create awareness for the host city but also attract future investments, positioning events as catalysts for both short-term boosts and long-term development.” She said.

Adenike Akinyemi, furthermore, disclosed that events contribute significantly to the cultural enrichment of communities, noting that they provide platforms for artistic and cultural expression, fostering community engagement and socialization.

She notes, “This cultural tapestry adds a unique dimension to the societal fabric, making events integral not only to the economy but also to the overall well-being of the community.

Adenike Akinyemi’s insights reveal that the event industry is a multifaceted driver of Nigeria’s economic prosperity. From job creation and tourism stimulation to marketing, branding, and cultural enrichment, events stand as dynamic contributors to the nation’s growth and development in Nigeria.