The Federal Government of Nigeria has announced an investment of $618 million in Digital and Creative Enterprises (iDICE) project to boost Nigeria’s creative industry’s productivity and contributions to the nation’s economic growth.
The Vice-President, Kashim Shettima, who made this disclosure on Wednesday during a meeting with a delegation from the Abuja International Carnival at the Presidential Villa, said the iDICE initiative was designed to provide vital support across various sectors of the digital and creative industries, specifically targeting the enhancement and growth of the carnival sector.
He explained that the government was making strategic moves to explore the opportunities in global carnival market, which is currently estimated to be worth $5 billion.
Shettima said: “The value of the global carnival market is estimated at five billion dollars. This underscores its potential to assist us in our economic growth agenda.
“Beyond promoting our rich cultural heritage, it is a driver for national unity and cohesion. We also have to look at the potential for economic value addition”, he added.
The Vice President assured the delegation of President Bola Tinubu administration’s commitment to supporting youth enterprises in the creative sector.
He cited some global carnival successes, including the Rio de Janeiro Carnival, which attracts approximately 200 million visitors each year, to highlight the immense economic growth potential that such events can yield for the country.
This is even as he spoke about the annual Calabar Carnival cultural benefits, including as cultural heritage of the Efik/Ibibio people, to further stress the importance of carnival festivities in promoting local traditions and fostering community spirit.
While recalling that the Abuja Carnival used to be an even bigger event, Shettima charged the Abuja International Carnival delegation to fast-track all efforts toward holding the event in view of its socio-cultural and economic benefits to the country.
In his remarks, Chief Executive Officer of the Abuja International Carnival, Kehinde Adegbite, thanked the vice president for the government’s support and expressed the organisation’s plans to collaborate with the Ministry of Art, Culture, and the Creative Economy to revitalize the carnival.
He said: “We met with the Minister of Art, Culture, and the Creative Economy, Hannatu Musawa, who is creative-driven and agreed that we partner with the ministry for the project. The carnival brings unity, empowers the youths, and helps discover talents.”
