The Nigerian Government has announced plans to monetize Nigeria’s tangible and intangible assets in the creative, cultural, and tourism industries.
This initiative according to the Minister of Art, Culture, Tourism, and the Creative Economy, Hannatu Musawa aims to create a new revenue stream and stimulate economic growth.
Addressing State House Correspondents on Monday after the Council meeting, The Minister said the council approved a memo for the monetization of assets such as museum collections, historical monuments, traditional knowledge, indigenous textiles, and cultural landscapes.
This move she said is expected to contribute to the country’s economic expansion and job creation, with a target of generating $100 billion by 2030 and creating at least 2 million jobs by 2027.
She added that The monetization strategy will involve four separate processes to access and leverage the assets under the ministry’s agencies.
This initiative is seen as a way to utilize Nigeria’s rich cultural heritage and creative industry to drive economic growth, reduce unemployment, and increase national pride.
(Editor: Paul Akhagbemhe)
