Growing nigeria's creative economy

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Post on 17-Aug-2014



Economy & Finance

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With Nigeria's recently rebased GDP figures, it is clear that Nigeria's creative economy is on the upswing. However, a lot still needs to be done to make the recorded gains count for much. Chief among the reforms that are needed is a focus on Intellectual Property Rights, the setting up of an Arts Exchange as well as a Bureau for monitoring Distribution and Boxes Offices. There is also a need for the setting up of proper Studios and Record Labels. Above all, there is a need to underscore the activities of the creative economy, with proper Financial analysis which can help open up Nigeria's creative industry to funding and investments which is required to further boost quality and output.


<ul><li> By Bolaji Okusaga The Quadrant Company, Lagos - Nigeria </li> <li> PART ONE: COUNTRY OVERVIEW </li> <li> MAP OF NIGERIA 3 </li> <li> Monolithic as oil gives over 90 per cent of the countrys revenue Fuel price influences other prices. It sells for =N=97 per litre currently The regime of Privatisation is on with telecommunications, power etc Inflation rate is 9.72 per cent GDP growth rate is 6 per cent, Government now targets 13 per cent THE NIGERIAN ECONOMY 4 </li> <li> Telecommunications network is good and continually improving and expanding Tourism Tinapa, Obudu Cattle Ranch, Okomu Forest Reserve, Ikogosi Tourist Centre, Yankari Games Reserve, Jos Wildlife Park, Olumo Rock, Erin Ijesha Waterfalls, etc Transportation All major Airlines of the world have bases in Nigeria Road, Railway and Water transportation are also available for domestic and international travels Hotels Five Star Hotels are in all parts of Nigeria including NOGA, Meridien, Sheraton among others. THE NIGERIAN ECONOMY CONTD 5 </li> <li> THE NIGERIAN ART SCENE 6 Nigeria is rich in creative output from Art and Crafts to Music, Acting, Writing and Fashion From the recently rebased GDP figures Nollywood is 2nd largest film industry in the world, after Hollywood and closely followed by Bollywood with annual revenues estimated at $200 - $300 million The Nigerian music scene is also vibrant with different musical genre which include, Afrobeat, High-life, Juju music amongst others Nigerian artistes that have impacted world music include Fela Anikulapo-Kuti , Dr Alban, Ebenezer Obey, King Sunny Ade and the new generation of artistes including 2Face, DBanj, Wande Coal, P Square etc. </li> <li> AGENCIES IN THE ART INDUSTRY INCLUDE: National Council for Arts and Culture Centre for Black African Arts and Civilization National Theatre / National Troupe National Institute of Cultural Orientation National Gallery of Art National Commission for Museums and Monuments Nigerian Films Corporation National Films and Video Censors Board INDUSTRY SOCIETIES Nigerian Copyright Commission Copyright Society of Nigeria Society for Nigerian Arts Performing Musician Association of Nigeria Society for Performing Arts in Nigeria (SPAN) THE NIGERIAN ARTS SCENE CONTD 7 </li> <li> The Nigerian government backs the cultural exchange through exchange of artists, exhibitions, information materials, etc. on the reciprocal basis. Cooperation with UN, and particularly UNESCO, is of special concern. Apart from the support for festivals, exhibitions, etc., UNESCO pays particular attention to relevant cultural issues, such as copyright information management and enforcement, collection, analysis and documentation of the oral traditions, restoration and conservation of national monuments, creative writing, education, training in cultural development, establishment of a specialized National Institute for Cultural Orientation, etc. It is also through this organization that the Nigerian cultural institutions or associations join specialized international associations and organizations. INTERNATIONAL CULTURAL COOPERATION 8 </li> <li> PART TWO: INTELLECTUAL PROPERTY RIGHTS AND THE ECONOMICS OF THE ART INDUSTRY 9 </li> <li> Nigeria is the largest market in Africa for goods that infringe intellectual property (IP) rights The abuse of IP rights diminishes the economic attractiveness of Arts, Music and Entertainment It gives an impression that local creative talents cannot thrive in Nigeria This also deprives Nigerian professionals of the revenue they have rightly-earned and the government of the taxes that can be derived from that revenue [and reinvested in the economy] ARTS AND INTELLECTUAL PROPERTY RIGHTS </li> <li> POLICY, REGULATORY AND MARKET FOR IP ISSUES </li> <li> Sensitize the public on the economic losses intellectual right infringement causes the country Initiate call and response for Nigerians to protect intellectual property Engage all stakeholders on the activities of the NCC and their bearing on national development Build cordial relationships between the NCC and its critical stakeholders Play up the socio-economic losses the country suffers from Intellectual Property (IP) violation Use the successes of other countries in the fight against IP violation to preach the message of hope TACKLING IP INFRINGEMENTS </li> <li> SECTORIAL CONTRIBUTION TO GDP SECTOR CONTRIBUTION 2013 1. Agriculture 21.97 2. Wholesale and Retail 16.75% 3. Crude Oil and Natural Gas 14.4 % 4. Services a. Telecommunication and Information Services b. Motion Pictures, Sound and Recording 50% 5. Finance and Insurance 3.37% 6. Manufacturing 6.81% 7. Building and Construction 2.09% to GDP 8. Real Estate 8.01% Source: Bureau of Statistics </li> <li> IMPLICATIONS OF SECTORIAL CONTRIBUTION TO GDP </li> <li> California is biggest economy in the United States and one of its sources of revenue is ARTS Remember Hollywood? What is our role as Arts Practitioners in the bid to raise Industry stakes? How can our understanding of Branding and Business Strategy help? Where does this take us? </li> <li> The California creative economy produces in excess of $300 billion in total sales and receipts, and is one of the largest employment-generators with over 640,000 direct and indirect jobs. The California creative economy has high multiplier effect on other aspects of the regional economy: THE CALIFORNIA CREATIVE INDUSTRY </li> <li> Establishment of a creative economy will help harness Nigerias creative, intellectual and aesthetic sensibilities as expressed through the arts, music, film and culture, towards building a more robust Macro-Economic platform and gradually move Nigeria from an Oil dependent Economy into a vibrant and diversified economy: ESTABLISHING A CREATIVE ECONOMY Measurement of the market impact of businesses and individuals involved in producing cultural, artistic and design goods and services in order to be able to optimize output </li> <li> ART INDUSTRY ECONOMIC INCLUSION - CRITICAL ISSUES </li> <li> HOW CAN THIS HAPPEN? </li> <li> ROUTE TO MARKET: BRANDING AND SELF PROMOTION </li> <li> THE NEW RULES OF ENGAGEMENT </li> <li> THANK YOU. </li> </ul>