The Federal Government is set to establish a Special Purpose Vehicle (SPV) for constructing world-class performance arenas in Abuja and Lagos, according to Hannatu Musawa, Minister of Art, Culture, and Creative Economy.
Speaking at the 2024 End-of-Year Economic Review Technical Workshop hosted by the Office of the Vice President in Abuja, Musawa highlighted that these proposed stadium-sized venues are central to her ministry’s strategy for expanding Nigeria’s Gross Domestic Product (GDP) by 2030.
Addressing Infrastructure Gaps
The minister expressed concern over the lack of suitable performance arenas in Nigeria, which has forced local and international artists to hold major events in other countries, such as Ghana and Rwanda.
“So, people talk about Afrobeats, which is Nigerian, right? Of course, we all know Fela Kuti and the legacy he built. But as a Nigerian, you cannot watch a Nigerian artist perform Afrobeats in a stadium here because there’s no such arena in the country,” Musawa lamented.
Upcoming Projects
Musawa revealed that her ministry is finalizing plans to propose an initiative to the Federal Executive Council (FEC), which will formalize the creation of stadium-like arenas to host global artists and performers.
“We’re working on an initiative to set up a special purpose vehicle to build these facilities. Within the next few weeks, we will announce plans for an arena in Abuja and another in Lagos, enabling artists like Beyoncé and Burna Boy to perform right here in Nigeria,” she said.
Boosting Nigeria’s Creative Economy
Musawa also emphasized the importance of investing in cultural infrastructure, such as museums, to maximize their economic value. These projects are part of a broader effort to reposition Nigeria as a global tourist destination and diversify the economy.
She commended President Bola Tinubu for supporting the shift from a petroleum-dependent economy to other sectors, including the digital, creative, green, blue, and gas economies.
Nigeria’s Creative Industry Potential
Despite its rich cultural heritage, Nigeria’s creative industry contributes only 1.2% to the GDP, lagging behind countries like Egypt (4.3%), South Africa (3.0%), and Morocco (2.7%), according to the National Bureau of Statistics.
Musawa noted, however, that the sector is experiencing rapid growth, driven by Afrobeats and Nollywood, which has become the world’s second most productive film industry.
With a young and vibrant population—70% of the country’s 210 million citizens are under 30—Nigeria has the potential to harness its creativity for significant economic growth.
Vision for the Future
Musawa’s ministry aims to generate $100 billion annually and create over two million jobs from the creative economy. The planned arenas are expected to attract global events, strengthen the local entertainment industry, and position Nigeria as a hub for international performances.
This initiative underscores the government’s commitment to transforming Nigeria’s creative economy into a leading contributor to national development.
