Nigeria’s creative economy is projected to generate $100bn, according to Minister Hannatu Musawa, who highlights cultural heritage as a driver of economic growth

Creative economy development is at the heart of the Federal Government’s plan to build a $100 billion economy, as it leverages Nigeria’s vast cultural, tourism, and creative assets.

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This vision was reaffirmed by Hannatu Musa Musawa, Minister of Art, Culture, Tourism, and the Creative Economy, during a dinner in her honour hosted by the Lai Labode Heritage Foundation in Abeokuta, Ogun State.

Musawa revealed that the government is working closely with all 36 states, alongside the private sector, to foster inclusive economic growth.

“We are promoting cultural heritage not just for preservation but as a core driver of economic prosperity,” she said. This forms part of the Renewed Hope Culture Programme, which prioritises rural cultural documentation and community engagement.

A major highlight of the evening was Ogun State’s flagship Egbaliganza cultural celebration, praised by Musawa as a model initiative supporting the Ministry’s ambitious $100 billion creative economy target.

High Chief Mustapha Abdulhakeem Owolabi, Executive Director of the Lai Labode Heritage Foundation, announced plans to host the Africa Fashion Olympics in Egbaland by 2026.

The event, set to involve 50 African nations, is expected to position the region at the forefront of a $500 billion continental fashion movement.

“With Africa holding only 1.2% of the $30 billion global fashion market, Egbaland aims to lead a new era of African fashion dominance,” said Owolabi.

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This cultural and creative push opens vast opportunities for SMEs operating in fashion, tourism, and the arts  sectors seen as vital to diversifying Nigeria’s economy and creating jobs at scale.