In a significant move to boost Nigeria’s creative economy, the Federal Executive Council (FEC) has approved two major initiatives: the Creative Technology and Innovation Company (CTICo) and the Creative Leap Accelerator Program (CLAP Initiative). These initiatives aim to drive economic growth, foster innovation, and empower creative talents in Nigeria.
The CLAP initiative, in particular, is designed to position Nigeria as a global leader in the art, culture, and creative sectors. With a vision to contribute $100 billion to Nigeria’s GDP by 2030, CLAP represents a twenty-fold increase from the current state ¹. The program will focus on capacity building, incubation, and collaboration, providing comprehensive training, mentorship, and resources to creative entrepreneurs.
CTICo and CLAP initiative approval demonstrates the government’s commitment to supporting the creative sector. As Minister of Art, Culture, and the Creative Economy, Barrister Hannatu Musa Musawa, noted, “The creative economy is a significant contributor to Nigeria’s GDP, and we are committed to empowering our creative entrepreneurs to excel and innovate”
Various sectors will feel the impact of these initiatives , from art and culture to technology and innovation. As Nigeria’s creative economy continues to grow, it’s exciting to think about the possibilities that these initiatives will unlock. With the government’s support, Nigeria’s creative entrepreneurs like GetCreativeMoney will get to take the world by storm.
Musawa introduced CTICo, a public-private initiative to build, fund, and develop world-class infrastructure for creatives, investors, and tourists.
According to the Minister, the CTICo is not just about buildings but about creating opportunities as well as growing businesses. Thereby, making Nigeria a global creative powerhouse.
According to Musawa, Nigeria needs CTICo due to several factors hindering the growth of its creative and tourism sectors. These include a lack of essential infrastructure, limited investment due to poor facilities, a need for large-scale job creation in the creative economy, and untapped potential for global cultural influence. Additionally, there is a significant economic opportunity to generate $100 billion that remains untapped due to these. CLAP is a national initiative that will position Nigeria as a global leader in the creative economy. It provides structured training, mentorship, and funding to help creatives scale their careers. By establishing creative hubs across the country, CLAP creates an ecosystem where innovation thrives.
Objectives of CLAP
Key Objectives of CLAP:
- Capacity Building: Empower creative entrepreneurs with the skills and expertise needed to succeed in the global market.
- Incubation and Innovation: Establish creative clusters and centers of excellence that will serve as incubators for new ideas and enterprises.
- Collaboration and Partnerships: Foster strategic partnerships with renowned organizations to provide resources, expertise, and opportunities to creative entrepreneurs.
According to the minister, CLAP will run through a structured system that ensures sustainability and efficiency.
“A strong governance framework will guide its development, while a public-private partnership model will drive resource management. Financial and operational aspects will be carefully overseen. With strategic collaborations supporting key areas like legal frameworks, funding, and digital infrastructure”. Musawa said in the official statement.
CTICo is poised to provide world-class infrastructure for film, music, fashion, arts, and tourism by bringing together the government, private investors, and international partners. These initiatives, according to the minister, will boost local industries, attract foreign investments, and increase Nigeria’s cultural exports. Thereby, creating a self-sustaining ecosystem that fuels long-term economic prosperity.
Proposed Structure of CLAP Initiative and CTICo
The success of the CLAP Initiative and CTICo is supported by key partnerships with the Nigerian Government through relevant public institutions, International Finance and Development Institutions that provide funding and strategic support, Global Organizations contributing expertise and capacity-building initiatives, and Major Foundations supporting innovation and sustainable impact. According to the minister, these combined partnerships will drive the funding, expertise, and innovation required for CTICo to achieve its goals.
The structure of CTICo will be as a limited liability company with independent management. The Nigerian government will hold a 25-49 percent minority stake, ensuring private sector efficiency while maintaining national interests.
The Honourable Minister has ensured that CTICo follows governance models inspired by successful PPPs like NIBSS and NLNG. As this will help in ensuring transparency, accountability, and long-term sustainability.
The Honourable Minister is driving key projects to transform Nigeria’s creative and tourism sectors. CTICo will revive Obudu Resort and Yankari Game Reserve, develop the Abuja Creative City, and also expand Nollywood with 5,000 new cinema screens.
Future Projections
CLAP will drive economic transformation by contributing to Nigeria’s $100 billion creative industry goal. It will create two million jobs by 2030 while strengthening Nigeria’s position in film, music, fashion, gaming, and digital art. With 600 creative hubs nationwide, the industry is ready for unprecedented growth.
Other projects include the Wole Soyinka Creative City in Lagos, the Centre for African Arts, a Digital Distribution Network, and the National Arena expansion to 100,000 capacity. These initiatives will create jobs, attract investment, and elevate Nigeria’s creative economy.
