By Henry Akubuiro and Vivian Onyebukwa
Stakeholders in the creative industry, recently gathered in Lagos to brainstorm on the way forward for the industry in the country. The 2nd Annual Symposium and Easter Festival Parade (SEPF), organised by Lagos Chamber of Commerce and Industry (LCCI), brought together key players across the creative industry to tackle questions on strategy and sustainability.
The programme came under the theme, “Celebrating and Embracing Positive Impact: Consolidating the Creative, Entertainment, and Cultural Ecosystem Against A Challenging Socio-Economic Environment- The Way Forward”.
In her address of welcome, Dr. Ngozi Omambal, Chairperson, Creative and Entertainment Group, LCCI, described the event as an important initiative of NMO Management Ltd and the voice of the organised private sector, LCCI’s Creative and Entertainment Group, under the Chairman of Council and President, Mr Gabriel Idahosa: “Its experienced practitioners and professionals – our collective endeavour is to support an enabling environment and a robust and vibrant sector, building on infrastructure to consolidate a powerful and now global creative ecosystem.”
Dr Omambala, who is also the Group Managing Director, NMO Management Ltd, stated that the symposium came at a pivotal and watershed moment for the creative sector, which had seen growth, development, and widespread international interest on an unprecedented level. She said,“Against a backdrop of harsh socio-economic challenges we all face and intend to constructively tackle and address here in the interests of future protection and betterment of our Creative communities, what I term facing our fears for a better tomorrow.”
Dr Omambala noted that the emergence of a renewed sense of patriotism and national pride was evident from across the Diaspora. She noted that, in Lagos, Nigeria, the youth make up a large proportion of the demographic landscape. “Of Nigeria’s 230 million population, 70% are under 30-Nigeria contains, has the largest youth population across the world, an asset to any world economy and indeed a huge capital resource for economic growth and prosperity.”
She hinted that the Lagos International Trade Fair would unveil, as a testament to its ongoing commitment to the sector, the inaugural MessyNovember International Artistic Pulse Festival, an independently self-run and funded 10-day Music, Film, Fashion, Food, Visual Arts, and Technology-driven Entertainment Village, forging strong commercial partnerships and collaborations powered by the 3C’s —Creative, Cultural, Corporate mix, and youth centered holistic experience of the creative entertainment sector in the lead-up to DettyDecember social calendar activities including LCCI partner event, and the Pan African 11th Annual Music Fashion Runway MFR. “Last year, DettyDecember generated $71 million in revenue in Lagos State alone,” she said.
In his keynote address, the President/Chairman of Council, Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa emphasised the importance of digitalising and decentralising creativity to expand artists to creative opportunities across the nation.
He noted that the event was not just a celebration of creativity but a reaffirmation of the country’s commitment to one of the economy’s most vibrant and dynamic sectors: the creative, entertainment, and cultural ecosystem. “Today’s theme, “Celebrating and Embracing Positive Impact: Consolidating the Creative, Entertainment, and Cultural Ecosystem Against a Challenging Socio-Economic Environment the Way Forward,” is not only timely, it is imperative. We live in an era of unprecedented economic uncertainties, from inflationary pressures, currency depreciation, and unemployment to the aftershocks of global pandemics and geopolitical tensions. Yet, amidst this turbulence, the creative and entertainment industries have emerged as survivors and beacons of hope, resilience, and innovation.”
He said that the global creative economy was currently estimated to be worth over $2.25 trillion, contributing over 3% to the global GDP, according to the United Nations Conference on Trade and Development (UNCTAD).
The chairman further stated that, in Nigeria alone, the creative sector contributes approximately 2.3% to GDP, accounting for over 4.2 million jobs and impacting millions more through ancillary services such as tourism, tech, fashion, and logistics. “Across Africa, Nollywood stands tall as the second-largest film industry in the world by output, producing nearly 2,500 movies annually and generating over $1 billion in revenue. The Nigerian music industry, spearheaded by global icons like Burna Boy, Wizkid, and Tems, is on track to surpass $44 million in streaming revenue by 2025, according to PwC’s Global Entertainment & Media Outlook.”
Looking at the creative sector globally, the chairman made references to other countries, “We have seen similar stories. South Korea’s investment in its creative sector, including the Korean Wave (Hallyu), has translated to more than $10 billion in cultural exports annually. The entertainment industry is a cornerstone of the United States’ GDP, contributing more than $877 billion and supporting 5.1 million jobs. These examples underscore the creative sector’s limitless potential to entertain, educate, inspire, and drive economic recovery and inclusion.”
He, however, noted the challenges facing the Nigeria creative sector despite its vibrancy, “The country’s creative ecosystem still grapples with structural challenges, such as lack of access to funding, intellectual property theft, weak infrastructure, regulatory bottlenecks, and inadequate formal training institutions. We are at a critical juncture. The question is not just how to celebrate our gains but how to consolidate them. How do we protect the creative spirit in times of economic constraint? How do we channel culture into capital and ideas into industries?”
Looking at the way forward, the Chairman noted that it begins with intentional investment, adding that governments, private sector stakeholders, and development partners must prioritise long-term financing models tailored for creatives, low-interest loans, grants, venture capital, and impact funds.
“In Kenya, the government-backed Youth Enterprise Development Fund, has disbursed over KSh 12 billion, empowering over 2 million youth, many in the creative space. Nigeria’s own Bank of Industry’s NollyFund and CBN’s Creative Industry Financing Initiative, are steps in the right direction, but these initiatives must scale further, with greater transparency and accessibility.”
He further stated that the creative sector is heavily informalised with 70% of practitioners lacking structured contracts, health insurance, or pension plans. “We must drive formalisation through tax incentives, digital registration portals, and public-private partnerships with industry guilds. Let us digitize the sector, not just its content, but its structure. Cultural hubs, sound stages, studios, performance arenas, and co-working spaces must be built across Nigeria’s geopolitical zones. Lagos cannot remain the sole nerve centre.
“From Jos to Enugu, Port Harcourt to Kano, let us decentralise creativity and democratize opportunity. Piracy robs Africa of an estimated $5 billion annually. A robust copyright enforcement system, blockchain-based tracking, and regional cooperation through ECOWAS and the African Continental Free Trade Area (AfCFTA), can transform how we value and monetize our art. Let us treat our intellectual property with the seriousness it deserves —it is the oil of the 21st century.”
Noting the trend in digitalisation, he said, “Non-Fungible Tokens (NFTs) to AI-generated music, the future of creativity is digital”. He then advised the country to build digital literacy programs, animation schools, and tech-creative incubators. “Our youth must not only consume content, they must create, code, and commercialise it. Platforms like Africori, Mavin Global, and FilmOne have already demonstrated what’s possible when creativity meets digital scale.
“Culture is not merely a commodity, it is our identity. We must fund museums, promote multilingual storytelling, encourage indigenous literature, and protect heritage sites. Cultural diplomacy can open markets and minds, just as the Brazilian samba, Indian Bollywood, and Japanese anime have done. Nigeria’s Jollof rice, Afrobeats, Ankara fashion, and pidgin slang are soft power tools that are waiting to scale globally.”
He reaffirmed the commitment of LCCI to this vision through their Creative and Entertainment Sector Group, promising to continue to advocate for enabling policies, organise platforms for collaboration, and drive investments that place creatives at the centre of economic growth.
To every creative mind at the event, he said, “Your work is not just entertainment but empowerment. You are shaping perceptions, building bridges, and rewriting the African narrative. Let this symposium not just be a forum for dialogue but a catalyst for disruption. Let us consolidate our efforts, celebrate our culture, and rise above adversity with imagination, resilience, and unity.”
The event, which took place at Mövenpick Hotel, Ikoyi, Lagos, had panelists which included LCCI leaders and cultural stakeholders, who debated the future of Nigeria’s creative sector calling for better infrastructure and investment. They included Shade Bembatoum-Young , Elvina Ibru, actress Obukome Ibru, ex comedian Atunyota Alleluya Akpobome, popularly known as Alibaba, the journalist, Azuka Ogujiuba; Oluwatobi Akinwale, Amb. Mark Idiahi, Dr Chinyere Almona, Aduke Gomez, Ovo Ogufere, among others.
The models and designers brought the music fashion runway to life with their authentic and creative African styles. Four fashion designers who showcased their creativity on the runway included, O’ Saunders, RIY Fashion, TJB. Other entertainments at the event included musical performances celebrating culture, creativity and commerce, etcetera.