According to Ramin Toloui, the Assistant Secretary for the Bureau of Economic and Business Affairs at the U.S. Department of State, Nigeria’s creative economy has the potential to generate a minimum of 2.7 million employment in the nation by 2050.
Toloui made this claim on Monday, November 6, in a speech to Lagos-based creatives.
He claims that by 2030, the industry might grow to be Nigeria’s top export industry and contribute an estimated $100 billion to the country’s GDP.
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“It is simple. The cultural sector alone accounts for 3.1 per cent of global gross domestic product (GDP). The creative industries generate annual revenues of over $2tn and account for nearly 50 million jobs worldwide according to the UN Conference on Trade and Development, and that’s not all,” he said.
Toloui highlighted the thriving collaborations between American and Nigerian artists while applauding the remarkable growth of Nigeria’s creative sector.
Nonetheless, he emphasised how American actors are becoming more interested in Nigerian film and how Nigerian musicians are becoming more successful when they work with their American counterparts.
‘’This rising demand has led to increased exports of African content through digital streaming platforms and international tours, as well as a surge in investments from African-based investors in early-stage creator economy startups,’’ he said.
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Toloui conveyed the support and pride of the U.S. administration in seeing the blossoming ties between the United States and Nigeria in the creative industry.
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