The National Institute for Policy and Strategic Studies (NIPSS) has joined forces with the Federal Ministry of Art, Culture, Tourism and the Creative Economy to support President Bola Tinubu’s goal of expanding Nigeria’s economy to $1 trillion by 2030. This alliance was finalized during a recent visit by NIPSS Director-General, Prof. Ayo Omotayo, to Minister Hanatu Musawa in Abuja.
Prof. Omotayo explained that the Institute identified the creative industry as a vital pillar for economic growth. Since 1977, there has been a lack of comprehensive research into the potential of this sector. To address this, NIPSS is organizing a National Summit and Exhibition on the Orange Economy. The initiative involves gathering insights from experts and stakeholders, with course participants currently conducting field research both domestically and internationally to identify best practices for Nigeria.
NIPSS estimates that the creative sector could contribute between $250 billion and $450 billion to the economy if properly developed. Former Minister of Information and Culture, Alhaji Lai Mohammed, described the creative industry as Nigeria’s “new oil,” noting that it is the country’s second-largest employer after agriculture.
Minister Hanatu Musawa welcomed the collaboration, stating that the ministry is already working toward a $100 billion contribution to the GDP. She announced that the ministry has formed committees to build the necessary financial and policy framework for the sector. The National Summit and Exhibition on the Orange Economy is scheduled for October 6-8, 2026, at the Wole Soyinka Centre for Culture and Creative Arts in Lagos. The event aims to bring together professionals from film, music, fashion, and other creative fields to create a more competitive national economy.
