How Hannatu Musawa Secured Afreximbank’s $200 Million Funding at UNGA79
At the just concluded United Nations General Assembly (UNGA79), the Nigerian delegation from the Ministry of Arts, Culture, and the Creative Economy made significant breakthroughs, writes Emmanuel Addeh
In a striking display of cultural brilliance and creative power, Nigeria triggered global investors’ attention at the “Destination 2030: Nigeria Everywhere” event, held during the United Nations General Assembly (UNGA) in New York.
The event, organised by Nigeria’s Ministry of Arts, Culture, and the Creative Economy, celebrated the nation’s vibrant artistic heritage, culinary excellence, and increasing influence in the global creative economy.
It further marked a significant milestone in Nigeria’s soft power strategy, part of the broader vision set by the government to expand the economy and elevate the nation’s global presence through its cultural assets.
Under the banner of “Destination 2030,” Nigeria aims to assert its cultural influence and strengthen its position as a leading creative hub, while significantly contributing to global cultural diplomacy and spurring economic growth.
The “Destination 2030” event was a vibrant celebration of Nigeria’s rich cultural tapestry.
It included a captivating art exhibition that paid homage to Nigeria’s legacy of artistic innovation. Chef Tolu “Eros” Erogbogbo delighted guests with a culinary experience that spotlighted Nigeria’s diverse and flavourful cuisine, and two dynamic panel discussions explored Nigeria’s rising influence in the global music and film industries.
The evening also featured performances by Dami Oniru and the legendary D’banj, cementing Nigeria’s reputation as a musical powerhouse.
In her keynote address, Minister of Arts, Culture, and the Creative Economy, Hannatu Musawa, outlined Nigeria’s ambitious goals for its creative economy.
She emphasised the critical role of global partnerships in driving the country’s vision forward, stating that: “Destination 2030: Nigeria Everywhere” remains Nigeria’s roadmap to transforming the country into a global cultural powerhouse.
“To fully realise this vision, I urge investors, development partners, and global collaborators to join us in creating 2 million jobs and contributing $100 billion to the national Gross Domestic Product (GDP),” she stated.
A crucial component of the Destination 2030 vision is the ministry’s partnership with the African Export–Import Bank (Afrexim Bank).
Accordingly, President and Chairman of Afreximbank, Prof. Benedict Oramah, took the stage to highlight the bank’s commitment to Nigeria’s creative industries.
He announced a $200 million financing facility aimed at supporting the ministry’s new initiatives, stressing that “investing in the creative industries is about building a foundation for sustainable economic growth and positioning Africa as a global cultural leader.”
Central to the “Destination 2030” initiative is Nigeria’s goal to establish itself as a global soft power leader by 2030, it was learnt.
Notably, President Bola Tinubu had set clear Key Performance Indicators (KPIs) and deliverables for this vision, which include positioning Nigeria as a top cultural influencer and improving its global brand perception.
As of 2024, the ministry reported a 36 per cent increase in Nigeria’s Cultural Influence alongside an 18 per cent increase in the Brand Perception Index, reflecting the positive reception of Nigeria’s cultural diplomacy efforts on the global stage.
Global soft power has become an essential component of modern diplomacy, with countries like South Korea and Japan leveraging their cultural assets to build influence and shape perceptions worldwide. South Korea’s K-pop and Japanese anime are prime examples of how cultural products can drive a country’s global influence, generating economic value and improving diplomatic relations.
Nigeria’s “Destination 2030” initiative is modelled on such successes, aiming to harness the country’s cultural resources to create a powerful narrative that resonates internationally.
By positioning itself as a leader in arts and culture, Nigeria is not only promoting its creative economy but also enhancing its political and diplomatic leverage.
In addition to the “Destination 2030” event, Musawa engaged in several high-level meetings on the sidelines of UNGA to bolster Nigeria’s cultural and creative ambitions.
In discussions with UN Deputy Secretary General, Amina Mohammed and the Executive Director of the UN Office for Partnerships (UNOP), explored aligning Nigeria’s cultural initiatives with the UN’s Sustainable Development Goals (SDGs).
A meeting with US State Department Under Secretary for Public Diplomacy, Lee Satterfield addressed the ministers’ eight-point plan and potential US support for Nigeria’s creative industries.
Additionally, bilateral talks with Faisal Alibrahim, Saudi Arabia’s Minister of Economy and Planning, led to an agreement to foster collaboration in the creative sectors of both nations.
Commenting on the investment strides, Oramah said: “As a proud Nigerian and African, I observe with admiration the phenomenon of ‘Nigeria Everywhere’ as I traverse the globe. From New York to Hong Kong, Copenhagen to Cape Town and Lisbon to Lima.”.
The future of Nigeria’s soft power strategy hinges on intentionally leveraging this growing global acceptance of Nigeria’s cultural product through robust initiatives such as “Destination 2030” and the strategic partnerships cultivated during global gatherings like UNGA.
By investing in its cultural assets—whether through the revitalisation of the National Theatre or initiatives such as CLAP which seeks to nurture young talent—Nigeria is establishing itself as a creative powerhouse poised to drive economic growth and shape global narratives
