The Ministry of Arts, Culture, and the Creative Economy has successfully secured a $200 million financing facility from the African Export-Import Bank (Afrexim) to enhance Nigeria’s creative economy. This announcement was made during the “Destination 2030: Nigeria Everywhere” event at the United Nations General Assembly (UNGA) in New York.
Afrexim Bank President Professor Benedict Oramah revealed the partnership, which aims to strengthen Nigeria’s flourishing creative sector. The investment aligns with the government’s ambitious goals to generate 2 million jobs and add $100 billion to the nation’s GDP by 2030.
Professor Oramah emphasized the importance of Nigeria’s soft power strategy, stating, “The future of Nigeria’s soft power strategy hinges on intentionally leveraging this growing global acceptance of Nigeria’s cultural products through robust initiatives like ‘Destination 2030’ and the strategic partnerships forged at global events such as UNGA.”
He added that investing in Nigeria’s cultural assets—such as revitalizing the National Theatre and initiatives like CLAP, which aims to nurture young talent—positions Nigeria as a creative powerhouse capable of driving economic growth and influencing global narratives.
In her keynote address, Hannatu Musawa, the Minister of Arts, Culture, and the Creative Economy, highlighted the significance of global partnerships in advancing the country’s vision. “Destination 2030: Nigeria Everywhere is our roadmap to transforming Nigeria into a global cultural powerhouse,” she stated.
Musawa urged investors, development partners, and international collaborators to join in the effort to create 2 million jobs and contribute $100 billion to Nigeria’s national GDP.
