Nigeria’s creative industry is fast becoming the country’s new economic powerhouse, offering millions of jobs and global recognition. With unemployment still hovering around 33% in 2022, young Nigerians have turned to music, film, fashion, art, and digital media to chart new futures—and the numbers speak volumes.
Currently valued at billions of dollars, the sector is projected to hit $15 billion by 2025, according to PwC. Nollywood—the world’s second-largest film industry—and Afrobeats, now topping global charts, remain its strongest drivers. The sector already supports over 4.2 million jobs, with an estimated 2.7 million more expected in the next five years.
At the 32nd Afreximbank annual meetings in Abuja, leaders gathered under the theme “Content: Nigeria’s New Oil,” highlighting both growth and gaps. Piracy, limited funding, and weak infrastructure remain obstacles, but programmes like Afreximbank’s CANEX initiative are stepping in to provide financing and training.
Industry voices say Nigeria has raw “crude talent” that needs refining. If properly harnessed, the creative economy could rival oil, not just entertaining the world, but powering Nigeria’s future.
