Film, fashion, others contribute N3.2trn to Nigeria’s economy

0
65
Minister of Communication, Lai Mohammed

THE film industry, hospitality and tourism contributed over N3.2 trillion to the economy of Nigeria according to a report by the Federal Government’s post COVID-19 Initiative Committee on the Creative Industry.

The Minister of Information and Culture, Alhaji Lai Mohammed on Thursday, gave an insight into the report submitted recently to the government by the committee.

Mohammed told the News Agency of Nigeria (NAN) that the recommendations by the committee, which was set up to advise government on how to mitigate the effects of COVID-19 on the creative industry, were revealing.

He said that hitherto, “we did not know that the fashion industry accounts for almost N2 trillion revenue and that the hospitality and tourism industry accounts for about N1.2 trillion.

“The publishing and printing industry accounts for almost N1 trillion and about N720 billion worth of books and paper enter the country annually.

“The film industry accounts for about N140 billion, the music industry revenue is over N300 billion while the comedy industry accounts for about N17 billion.”

Mohammed noted that besides the revenues generated, the film industry employs almost half a million people while the broadcast and advertising industry employs almost 500,000 people.

“The beauty and hair care industry does not only account for about 30,000 practitioners, also about 15,000 pieces of hair care, beauty care are sold every month in Nigeria.

He said the report highlighted how  COVID-19 pandemic had impacted on the various industries and explained for example the distancing rules have affected the ability to go out to shoot, produce and distribute films while the lockdown affected musical concerts and invitation of musicians to social functions.

“The same goes for the fashion industry because there is nothing to trigger demand for the hair and beauty care. Of course, when there are no parties and with the face masks the people are putting on, the demand for the products has gone down,” he said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here