The Ministry of Arts, Culture, and Creative Economy has successfully obtained a $200 million investment from the African Export-Import Bank (Afreximbank) to bolster Nigeria’s creative sector. 

In a statement issued on Tuesday, the ministry disclosed that this investment was announced during the “Destination 2030: Nigeria Everywhere” event at the recent United Nations General Assembly (UNGA) in New York. 

The ministry emphasized that the “Destination 2030” initiative is designed to position Nigeria as a global leader in soft power by the year 2030. 

As of 2024, the ministry reported a 36 percent increase in Nigeria’s cultural influence and an 18 percent improvement in the brand perception index, reflecting the success of Nigeria’s cultural diplomacy on the international stage. 

Hannatu Musawa, the Minister of Arts, Culture, and Creative Economy, spoke to investors at the event, highlighting that Nigeria’s rich artistic heritage continues to attract global interest and presents significant investment opportunities. 

Musawa noted that the country’s cultural excellence and its influence in the arts establish Nigeria as a vital participant in the global creative economy.