Culture can boost Nigeria’s economic growth- Oyatoye

Olaniyi Oyatoye, president of Asa Day Worldwide has said the creative and cultural industry if properly can significantly contribute to strengthening Nigeria’s economy.

Oyatoye spoke on Monday at a pre-Lagos 2021 Asa Day celebration being organised together with the Lagos State government and on November 21. The theme for this year’s cultural event is ‘Let’s use our cultural heritage to revive our economy.’

“There is the urgent need for meaningful and sustainable financing of cultural development by the government and financial institutions, and multinational organisations in Nigeria. The arts, culture, and tourism sector has been denied government attention and financial empowerment. If properly funded, the creative and cultural industries would enhance the growth of the economy as well as contribute to stem youth restiveness and criminality,’’ he said.

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Nigeria’s cultural industry

“As far back as 2015, according to Wikipedia (Free Encyclopedia), countries that made huge money from tourism include the U.S.A, $177.20 billion; Spain, $65.20 billion; China, $ 56.90 billion; France, $55.40 billion; Macau, $50.80 billion; Italy, $45.50 billion; United Kingdom, $45.30 billion; Germany, $43.30 billion; Australia $42.20 billion; Hong Kong $41.30 billion and Thailand $38.40 billion.

“In Africa, South Africa grossed $35.00 billion; Morocco $34.00 billion; Namibia $33.80 billion; Kenya $32.00 billion; Tunisia $31.80 billion while Nigeria trailed with a depressing $2.79 million earning! Indeed, Nigeria ranks 131 out of 141 countries with a tourism competitiveness index in 2015. But we are still miles away,” he said.

Solomon Bonu, the special adviser to Lagos state governor on tourism, who also spoke at the media briefing, urged all cultural enthusiasts to key into the initiative and come up with creative items that can be exported to other countries.