Nigerian Government Partners Afreximbank, Others to Boost Creative Economy

On Mar 19, 2025

The Federal Government has established key partnerships with the African Export-Import Bank (Afrexim Bank) and other stakeholders to enhance the contribution of the creative and tourism sector to the nation’s economy.

Hannatu Musawa, Minister of Arts, Culture, Tourism, and Creative Economy, revealed this in a statement on Tuesday in Abuja.

She stated that these partnerships were initiated and formalized through the ministry, with strategic collaborators including Wakanow, Africa’s leading tour operator, Boston Consulting Group (BCG), and TelAirVision, among others.

According to Musawa, these joint initiatives align with President Bola Ahmed Tinubu’s vision of developing a one-trillion-dollar economy through the sector.

Musawa stated that these collaborations aim to drive growth, strengthen cultural diplomacy, and increase the ministry’s contribution to the nation’s Gross Domestic Product (GDP).

She noted that investors, Nigerian content creators, and other key players in the creative economy are already reaping the benefits of these partnerships, policy initiatives, and bold sector reforms.

According to her, a recent agreement with Afreximbank secured a $200 million financing facility for Nigeria, providing crucial funding for businesses and entrepreneurs in the creative sector.

She emphasized that this initiative ensures Nigerian creatives—including filmmakers and digital innovators—have the necessary capital to scale their ventures, generate employment, and expand their global footprint.

“The Creative Leap Acceleration Programme (CLAP) is also developed in partnership with Lebara Nigeria that provides creatives with equitable loans, digital financing, and affordable internet access, ensuring their seamless participation in the digital economy.”

“Additionally, inbound tourists will benefit from streamlined financial services and eSIM activation, enhancing their experience in Nigeria.”

“To strengthen Nigeria’s creative workforce, the ministry has partnered with Alison, a global e-learning provider, integrating its Learning Management System (LMS) into CLAP.

“This offers creatives access to courses in digital media, gaming, music production, and cinematography, positioning Nigeria as a globally competitive creative hub.

“Another key partnership was a boost to digital storytelling through the Content Creators Challenge, a partnership between FMACTCE and TelAirVision.”

“This initiative provides funding, mentorship, and distribution support for digital creatives transitioning from short-form to full-length productions.

“By expanding opportunities in the content economy, the program fosters innovation and employment while promoting Nigerian talent on a global stage,” she said.

Musawa stated that to ensure financial accountability in the sector, fraud prevention measures have been implemented through a partnership with Prembly to deploy advanced Know Your Customer (KYC) verification.

She further highlighted a collaboration with the Presidential Tax Committee to introduce tax incentives and credits, aimed at making Nigeria’s creative sector more attractive to foreign investors.

Additionally, she noted that the ministry has taken steps to invest in infrastructure by signing a Memorandum of Understanding (MoU) with Cavista Holdings.

According to her, the MoU focuses on developing tourism infrastructure, digitizing tourism experiences, and investing in human capital.

She said the ministry under her watch, was strengthening international collaborations, including the one with the British Council, to drive skills development and cultural exchanges.

“The ministry has engaged the Boston Consulting Group (BCG) to analyse best practices from South Korea, Saudi Arabia, India, Japan, and China.

“These insights will help Nigeria tailors policies that drive the creative economy’s growth and maximise its GDP contribution.”

“There is also strategic agreements with Brazil which include the renovation of Casa da Nigeria in Salvador, fostering co-productions in film and music, and promoting cultural exchange.”

“Similarly, there is a partnership with the French Republic that grants Nigerian creatives access to French markets and specialised training in fashion, gaming, and cinema,” she said.

Musawa emphasized that the ministry’s strategic partnerships would not only generate employment and attract investments but also establish Nigeria as a leading force in the global cultural and creative economy.

NAN/Oluchi