Nigeria President Muhammadu Buhari, has revealed that the country’s creative sector is expected to contribute a whooping $10 billion to the Gross Domestic Product (GDP) in 2021. ayokinews.com reports
President Buhari made this known on Friday, during the Arise Fashion Week 2021 in Dubai, where he was represented by Mr. Niyi Adebayo, the honourable minister of industry, trade and investment.
Buhari, who highlighted the fact that the creative sector employs over four (4) million people, also revealed that the sector is the country’s second largest employer of labour.
“After agriculture, the creative sector is the second largest employer of labour in Nigeria today,” he said.
“This is further underlined by a recent report on Nigeria’s creative industry which showed that the industry is positioned as the second largest employer and has the potential to produce 2.7 million new jobs by 2025.
“There’s no doubt that Nigeria’s creative sector holds tremendous potential to unlock Nigeria’s economy and increase employment opportunities for young people.
“The projections are promising as the sector is expected to deliver over $10 billion by the end of 2021, making a tremendous contribution to the country’s GDP.”
He stated that the government’s continuous support to the telecommunications industry, increased the country’s broadband penetration from six percent in 2015 to 45.07 percent as of November 2021.
“And now, the road to 5G has begun; I urge the world to watch Nigeria as we reveal and transform,” Buhari added.