Entertainment industry contributes N154bn to GDP, creates 4.2m jobs – Mr Latin
The National President of Theater Arts and Motion Pictures Practitioners of Nigeria, Mr Bolaji Amusan, addressing the journalists on Friday, January 17, 2025.
By
Taiwo Bankole
Kindly share this story:
The National President of Theater Arts and Motion Pictures Practitioners of Nigeria, Mr Bolaji Amusan fondly called Mr Latin, on Friday said that the entertainment industry has created jobs for over 4.2 million Nigerians with a capacity to generate an additional 2.7 million jobs within the next four to five years.
Amusan also described the sector as very lucrative with motion pictures and music recordings accounting for about N154bn translating to about $197.6 of the country’s GDP in 2023.
Latin as he is popularly known in the film industry explained that the entertainment industry could rival oil earnings for the country if the opportunities and potentials inherent in the sector are judiciously harnessed.
Amusan stated this at a press briefing held in Abeokuta on Friday to unveil the logo of the national conference of the theatre practitioners with the theme “Maximizing the Potentials of Arts and Creativity in Addressing National Challenges” tagged Eko 2025 and slated for February.
The thespian called on the government to give uninhibited support for the creative industry, citing London, America, and India as an example.
Amusan said “If you go to London, to India and America, they are what I call grandfathers in film production and creative industry. The government focuses so well on the development of the creative industry in these countries.
“The only way we can do that is to get that uninhibited support from the government.
“In Nigeria, let’s take Ogun State, Lagos State, for example, we have just less than two to three film villages.
“If the government invested heavily in film villages and the equipment being used to produce films, it would reduce the stress and hardship being faced by the creative people to produce their products, produce their movies, and do a lot of things that will enhance their own life”.
Continued, Amusan said, “A single actor, filmmaker, Ibrahim Shatta, owns a film village that everybody is very, very proud of. Government can borrow something from someone like Ibrahim Shatta, and invest in the creative industry so that the full potential of the industry can be well harnessed.
“Motion picture and music recording accounted for roughly 154 billion Nigerian naira (NGN) (roughly 197.6 million U.S. dollars) of Nigeria’s GDP in 2023.
“Same year Netflix alone claimed to have supported 5,140 jobs and invested over $23 million in the Nigerian film industry.
“Between 2021 and 2023, the Nigerian box office generated a cumulative revenue of N19 billion. In 2021, revenue from the box office was N4.74 billion, it rose to N6.94 billion in 2022, and N7.24 billion in 2023”.
“The creative industries, including film, music, fashion, visual arts, and digital media can contribute significantly to economic diversification, by promoting local talent and creative exports, these industries can generate income and create jobs”.
“The creative sector currently employs about 4.2 million people in Nigeria. It has however been projected that the creative sector could create an additional 2.7 million jobs within the next 4–5 years if its potentials are properly annexed”.
