Osinbajo to Headline Creative Industry Financing Summit

July 10, 2017
Osinbajo to Headline Creative Industry Financing Summit

Osinbajo to Headline Creative Industry Financing Summit

**As FG Partners CNN, UNWTO

By Modupe Gbadeyanka

Acting President, Mr Yemi Osinbajo, will declare open the Creative Industry Financing Conference slated for July 17 and 18, 2017, at the Eko Hotel & Suites in Lagos.

Minister of Information and Culture, Mr Lai Mohammed, made this disclosure on Monday at a roundtable with practitioners in the creative sector in Nigeria.

At the meeting today, the Minister said the Federal Government has entered into a tripartite partnership with the CNN and the UN World Tourism Organization (UNWTO) to boost the Creative Industry in Nigeria, using the film industry as a pivot.

He said the movie industry would be used “as a lens through which we will project various aspects of the Nigerian Culture, Tourism and similar areas.”

”We are kick-starting the project with a 13-episode production showcasing the various stages in a movie production.

“These include the choice of location, which will allow us to showcase the various beautiful sceneries available in Nigeria; the choice of wardrobe that will show the rich options in the country’s fashion industry; the choice of sound track that will highlight our rich music genres, the casting that will showcase our abundant talents and the technical part that will provide the platform to show that there is no camera and other gadgets that we don’t have here.

”As part of the project, we will also run a programme on CNN showcasing the 20 Nigerians to watch in the Industry. The Nigerians to be showcased will be selected by the industry players themselves to ensure authenticity,” the Minister said.

He said the tripartite partnership, as well as the MoUs with the Tony Elumelu Foundation, the Bank of Industry and the British Council, were part of the efforts by the Federal Government to transform the Creative Industry to a Creative Economy.

Mr Mohammed said that he organized the Creative Industry Roundtable, which was well attended by industry players, to show the Federal Government’s willingness to work with the private sector in the transformation of the Creative Industry to a Creative Economy.

“This administration has no doubt that the plan to transform the creative industry to a creative economy must be driven by the private sector.

“After all, it is self-evident that the modest growth that has been achieved in the Creative Industry so far, whether in films, music or fashion, has been achieved in spite of the government.

“It therefore stands to reason that with the government providing the necessary enabling environment and the private sector in the driver’s seat, the transformation can be realized within a short time,” he said.

The Minister said the roundtable was not intended as another talk shop, adding that, “The stakeholders who are here are already aware of the problems mitigating against the seamless growth of the industry, hence I don’t expect us to spend quality time here today rehashing those problems. Instead, we should devote our time to seeking practical solutions to the problems we have earlier identified at many fora.”

Mr Mohammed reiterated his earlier statement that the Creative Industry is Nigeria’s new oil, saying statistics from other countries, including the UK and the US, attest to this.

“The Creative industry contributed £84.1 billion to the British economy in 2014. According to figures released by the Department for Culture, Media and Sport, that was an increase of £7 billion on the year before.

“The figures also show that the number of jobs in the industry grew by almost 9 percent between 2013 and 2014 – almost double the rest of the economy as a whole (4.6 percent).

“One of the areas of strongest growth was in film, TV, video, radio and photography, which rose almost 14 percent.

”In the United States, the Creative Industry, including Hollywood and broadcasting, contributes more to the U.S. economy than previously thought, the government said in its first official analysis of the arts and culture sector’s economic value.

“The 2015 report from the National Endowment for the Arts and US Bureau of Economic Analysis shows arts and culture contributed more than $698 billion to the economy, which is about 4.32 percent of US goods and services,” he said.

Mr Mohammed said the deliberations from the roundtable would feed into a larger event, the Creative Industry Financing Conference, slated for 17-18 July at the Eko Hotel in Lagos.

“To highlight the importance attached to this sector by the Federal Government, no less a personality than the Acting President, Prof. Yemi Osinbajo, will declare that Conference open,” he said.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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