The Federal Executive Council (FEC) has sanctioned the creation of the Creative and Tourism Infrastructure Corporation, a new initiative aimed at fostering investment and enhancing essential infrastructure within Nigeria's creative and tourism sectors.

During a press briefing following Monday's FEC meeting, Minister of Art, Culture, Tourism, and Creative Economy Hannatu Musawa characterized the initiative as transformative, emphasizing its potential to create economic opportunities and elevate Nigeria's status as a premier global cultural and tourism hub.

“The corporation will serve as a special-purpose vehicle under a Public-Private Partnership (PPP) framework, allowing us to identify, deploy, and finance essential infrastructure,” Musawa said.

She highlighted that the goal of the project is to bring in at least $100 billion in revenue, greatly enhance Nigeria’s GDP, and create two million jobs.

The initiative will concentrate on developing and revitalizing important tourism and creative centers throughout the country. Some of the projects on the agenda include improvements to the Obudu Ranch, Yankari Game Reserve, and the Abuja Creative City. The corporation will also manage the creation of a Creative City at the Wole Soyinka Centre in Lagos, a Centre for African Arts, and a Digital Distribution Network. Plus, there are plans to upgrade the National Gallery and construct a national museum in Abuja.

Musawa said, “We want to position Nigeria’s cultural assets on the global stage. “Imagine the giant of Africa not having a national museum in its capital. This initiative will correct that.”

She also pointed out the company's dedication to boosting Nollywood's presence on the global stage, aiming to turn it into a key center for filmmaking and creative content.

This approval is a big milestone in Nigeria's plan to tap into its rich cultural heritage and stunning natural sites for economic growth. Tourism and creative industries are seen as major players in job creation and attracting foreign investment, and the government is optimistic that this initiative will enhance Nigeria's reputation as a top destination.

The corporation's public-private partnership framework is set to draw in investors and stakeholders, ensuring ongoing funding and lasting effects.

“With the right infrastructure in place, Nigeria’s creative and tourism sectors have the potential to be billion-dollar industries,” Musawa mentioned.

The next steps will focus on attracting investment and launching development projects, with hopes that this initiative will reshape Nigeria’s cultural and tourism scene in the years ahead.

A recent report shows that the Federal Government has laid out a strategic plan via the Ministry of Arts, Culture, and Creative Economy to boost Nigeria’s creative sector. The goal is to achieve a 400% growth in the industry by 2027, making it a major player in the country’s economic development.

Minister Hannatu Musawa shared details about the ministry’s 14 key initiatives, which fall under four main areas: Technology, Infrastructure & Funding, International Culture Promotion, and Intellectual Property Monetization. 

In the Technology area, the ministry is set to roll out digital content tools, enhance internet access, and improve how content is distributed across the country. The Infrastructure & Funding section is all about identifying current assets, building new creative spaces through public-private partnerships, and starting an accelerator program for creative startups. 

For International Culture Promotion, the government plans to open culture offices in Nigerian embassies and use the African Continental Free Trade Area (AfCFTA) to enhance creative exports. The Intellectual Property Monetization efforts will focus on enforcing copyright laws, establishing recognized Collection Management Organizations (CMOs), and putting Nigeria’s IP licensing framework into action.

Even with its huge potential, Nigeria’s creative sector only made up 1.2% of GDP in 2022, falling short compared to Morocco (2.7%), South Africa (3.0%), and Egypt (4.3%). The government is looking to bridge this gap through investments and strategic partnerships, including a new collaboration with BigWin Philanthropy aimed at creating jobs and building capacity.