The “How” of Art as a Growth Driver

Patrick O. Okigbo III in conversation with Obi Asika

Nigeria’s overdependence on its petroleum resources hinders its economic development. Despite having the largest economy in Africa, Nigeria records a 40 per cent poverty rate, with an estimated 87 million Nigerians living below the poverty line. The country must develop its non-oil sectors to accelerate economic growth, create jobs, reduce poverty, and enhance progress. The country’s creative economy offers new growth engines. For instance, the culture, creative, hospitality, and tourism industry, recognised as one of Nigeria’s high-growth clusters, is expected to contribute about $25 billion in 2025 and about $100 billion by 2030 to the Nigerian Economy.

However, several challenges impact Nigeria’s creative economy: poor financing, market access, intellectual property protection, enabling infrastructure, an underdeveloped digital ecosystem, etc. While successive Nigerian governments demonstrated the need to develop these growth engines, none has stood out for its efforts. Indeed, Nigeria’s Nollywood, music, fashion, art, food, etc., developed despite the government.

Nextier, a multi-competency public policy advisory firm, uses its “Development Discourse” to probe for answers to complex development questions. This session will explore how Nigeria can harness its creative industry to drive economic growth. It will explore the rise of Nigeria’s Nollywood, music, fashion, art, food, etc. The discussion will explore the strategic decisions, policies, programmes and investments required to grow the industry. It will draw insights from local early successes and examine how places like South Korea, California, Riyadh, etc., deliberately created their thriving creative industries.

Join Obi Asika, Director General of the National Council for Arts and Culture and Patrick O. Okigbo III, Nextier’s Founding Partner, in this conversation. Prior to his recent appointment, Obi had a front-row seat in several initiatives to develop and harness Nigeria’s soft power as a tool for economic growth. He played a prominent role in laying the infrastructure for the growth and development of Nigeria’s media and entertainment industry:

▪ Founder and CEO, Storm 360: an indigenous music label that led the globalisation of Nigerian music
and the arrival of Afrobeats
▪ Founding Partner, Dragon Africa: Strategic comms and conferences
▪ Exec Producer, Big Brother Nigeria, 2006, The Apprentice Africa 2008, Dragons Den 2008 and many
more
▪ West Africa Partner and Co-founder of AMPN West Africa: Producers of “The Voice,” “The Winner Is,”
and “I Love My Country
▪ African Advisory Committee, Smithsonian’s National Museum of African Art, Washington DC
▪ Member of the presidential committee on the Nigerian Start-Up Act
▪ Leader, Technical Working Group CCHT (cultural, creative, hospitality and tourism industries) National
Development Plan 2020-2050
▪ Producer, “Journey of the Beats,” a 10-part documentary series on Showmax

Event Details

Date: Wednesday, April 17, 2024
Time: 15:00-16:30 (WAT)
Registration Here