The Creative Sector Predicted to Boost Nigeria’s GDP by $105 Million in 2023

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The thriving Creative and entertainment sector in Nigeria is set to make a significant contribution to the country’s GDP in 2023, with an estimated amount of $105 million, according to a keynote lecture delivered by Chief Kingsley Okafor. The lecture took place at the Patrons’ Investiture and Award Day, which marked the 10th anniversary of the Great Ekenhuan Alumni Association, Abuja.

Chief Okafor, the Pioneer Chairman of the association, highlighted the supremacy of the creative arts and its ability to generate substantial income worldwide. He cited statistics from the 2021 World Economic Forum, revealing that the combined revenue of the eleven creative and cultural sectors reached $3,500 billion, equivalent to 4.8 percent of the global GDP. This represents an increase from the previous year’s statistics, highlighting the industry’s growth potential. Additionally, Chief Okafor emphasized the significant role the creative industry plays in job creation, employing more people than the automotive industry in the entire USA, Europe, and Japan combined.

The event was attended by distinguished individuals, including Dr. Solomon Arase, the former Inspector General of Police, who currently serves as the Chairman of the Police Service Commission. Also present was the late Chief Raymond Dokpesi, the founder of DAAR Communications, the parent company of AIT and Raypower FM, as well as General Joel Unigbe (Rtd), the former Chief of Defence Logistics of the Nigerian military.

During the ceremony, Dr. Arase, Gen. Unigbe, Dr. Sam Akpara, a former lecturer at the Federal College of Education, Katsina, and Fellow of the Society of Nigerian Artists (SONAS), and Bishop Great Eromosele were honored as patrons of the association. Peter Dokpesi, one of the sons of the late Dr. Raymond Dokpesi, received a Certificate of Appreciation for his dedicated affiliation with the Great Ekenhuan Alumni Association, Abuja.

The association also took the opportunity to recognize and award several of its members for their outstanding service. Notable awardees included Mr. Nnamdi Okosieme, a renowned Nigerian journalist and former Director of Research and Documentation in the Presidency under Dr. Goodluck Jonathan. Mr. Okosieme, who had previously served as Chairman of the association, holds the distinction of being its longest-serving chairman, from 2014 to 2019.

Other recipients included Pastor Princewill Ihedigbo, a successful businessman and pioneer chairman of the association, Chief Kingsley Okafor, an Artrepreneur and President of the Association of Professional Creative Artists and Designers, Andrew Izirein, the current chairman of the association, and Dele Ahamisi, the organization’s Legal Adviser. Mrs. Stella Nwabuche, the incoming chairperson of the association, as well as Osazuwa Ehibor and Emmanuel Ohiomokhare, both journalists, were also honored for their contributions.

General Unigbe, who served as the chairman of the occasion, expressed his delight in associating with the association, particularly commending their commitment to utilizing the arts as a means of boosting the Nigerian economy.

The anticipated contribution of the creative and entertainment sector to Nigeria’s GDP in 2023 showcases the potential for growth and economic prosperity in the country. With the support and recognition of various industry stakeholders, the creative arts industry in Nigeria is poised to play a paramount role in both revenue generation and employment opportunities.

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Shreya Gupta
Shreya Gupta
Shreya Gupta is an insightful author at The Reportify who dives into the realm of business. With a keen understanding of industry trends, market developments, and entrepreneurship, Shreya brings you the latest news and analysis in the Business She can be reached at shreya@thereportify.com for any inquiries or further information.

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