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Nigeria should leverage creative industry to bolster export earnings, says UBA deputy MD | TheCable

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Muyiwa Akinyemi, deputy managing director, United Bank for Africa Plc, says the federal government should leverage the opportunities in the creative industry for sustainable export earnings. Akinyemi said this on

Muyiwa Akinyemi, deputy managing director, United Bank for Africa Plc, says the federal government should leverage the opportunities in the creative industry for sustainable export earnings.

“Historically, some of us grew up in Nigeria with the groundnut pyramids in Kano, cocoa houses in Ibadan and a few other places like that, but over time, when we discovered the black gold, we abandoned those our primary commodities,” Akinyemi said. Akinyemi added that 200 exporters were responsible for 95 percent of the $4.2 billion the country earned from non-oil exports in 2021.

Akinyemi, however, urged the government to consider the creative industry the same way it has focused on export, commodities and crude oil.“Most countries you go to in Africa today or globally when you talk about Nollywood, its second-biggest industry. Music- Wizkid, D’ banj, Burna boy, are all huge export earnings that we have not taken advantage of,” the deputy managing director said.

 

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