Industry experts have identified piracy and the lack of appreciation of intellectual property rights, among others, as major factors hindering the growth of the creative sector in Nigeria.
“We have to be well placed to tap these opportunities that are present in media, entertainment, beauty and lifestyle, visual art as well as tourism and hospitality because according to a report, the creative industry contributed $1.8 billion to Nigeria’s GDP in 2020,” Charles Odii, chief executive officer/director-general, SEDAN said.
Odii stated this during the 2023 Creative Nigeria Summit held recently in Lagos with the theme, ‘Investing in Nigeria’s creative ecosystem: Unlocking jobs and economic growth’.
The summit was organised by GEN Nigeria in partnership with the Enterprise Development Centre, Pan Atlantic University.
Odii, who was represented by Monday Ewans, director, enterprise development and promotion, SMEDAN, said further that the sector suffers from the lack of access to finance, poor distribution channels, low-quality standards, and the lack of monetisation of content and product.
Nneka Okekearu, director, Enterprise Development Centre (EDC), acknowledged the opportunities that exist in the creative sector and its contribution to wealth and job creation in the nation’s gross domestic product.
Joshua Adedeji, country lead, Global Alliance African, who spoke on leveraging tech in a creative space, said people must fully embrace technology to address deficiency in the creative industry.
“People are afraid of artificial intelligence but AI won’t take anyone’s job. Some jobs will disappear and new ones will emerge.
“We also need to look at our educational system because we need to work a balance of learning and practical in schools,” Adedeji said.