Special Advisor to the Secretary General UN World Tourism Organization and immediate past minister of information and culture of Nigeria, Alhaji Lai Mohammed, has solicited for more investment in Nigeria’s creative and culture industry, saying “the potential for success is limitless.”
Lai stated this at the 10th Pan African Music Fashion Runway on Saturday in Lagos.
“I urge both local and international investors to consider the creative and culture industry as a viable economic frontier.
“With our innate creativity and celebratory spirit, the potential for success is limitless. Let us harness these opportunities to drive prosperity for our nation,” he said.
According to him, with strategic investments, particularly in infrastructure, Nigeria can unlock unprecedented growth, attract global attention, and create countless opportunities for its citizens.
He said the the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry is a multi-billion-dollar global sector. He however, lamented that Nigeria, with its vast population and cultural diversity, has barely tapped into 2% of this market.
“Countries like Egypt, Kenya, Rwanda, and South Africa are far ahead in leveraging this industry for economic growth,” he said.
He noted that by failing to invest in infrastructure, Nigeria is losing revenue and exporting jobs.
He said, “Similarly, consider our globally celebrated music stars such as Burna Boy, Wizkid, Davido, and Tiwa Savage, who regularly perform to sold-out crowds in international arenas like London’s O2 Arena.
“These venues, often with capacities exceeding 20,000, highlight a glaring gap in our local infrastructure. By failing to invest in modern concert halls and arenas, we are effectively exporting jobs and revenue while losing the chance to create wealth and opportunities for our people.”
Speaking specifically on events, he said in 2016 alone, Nigeria hosted 1.9 million events, averaging 150,000 events monthly and 5,000 daily.
He however said Nigeria still lack sufficient purpose-built event centers, concert halls, and convention facilities to support this booming market.
