By Ola Adeola
The Federal Government has signed a memoradum of understanding with former managing director of the United Bank for Africa, Tony Elumelu on the development of Nigerian creative industry. The agreement between the Ministry of Information and Culture and the Tony Elumelu Foundation also involves fighting against piracy, helping “creative entrepreneurs reap value from their work, help to propagate a posisitve image of Nigeria to the rest of Africa and the world through film and music, and to revitalize our national cultural monuments”. Elumelu, who calls himself an Africapitalist, says he believes “that the development of Africa is not the sole responsibility of the public sector, but that the private sector has a key role to play”.
“At a time when President Buhari’s government is looking to diversify our economy, the creative industry is one sector that can really help us a lot.
“This is an industry that without any deliberate assistance has become a significant contributor to our GDP in billions of dollars – $6billion as of the rebasing exercise in 2014. This partnership seeks to bring a focus to this fallow industry and assist it in realising its full potential,” Elumelu said.
The event was attended by Minister for Information and Culture, Lai Mohammed, and some Nigerian entertainers, including veteran comedian Ali Baba.