Reps ask FG to implement policies to boost revenue capacity of creative industry

The house of representatives has asked the federal government to “urgently implement specific policies” to strengthen and enhance the capacity of the creative industry to generate revenue.

The resolution followed the adoption of a motion sponsored by Shina Peller, a lawmaker from Oyo state, at plenary on Thursday.

While moving the motion, the legislator said the creative industry is a “veritable incremental source” of employment which the government can strengthen as it seeks to diversify the economy from dependency on oil revenue.

He said if given the necessary support, the creative economy can drive employment, economic growth, innovation, and social cohesion.

“Data tend to support this view. In a study that covered 11 creative industries sectors across five regions of the world, it was estimated that in 2013, the creative industries contributed $2.3 billion to the global GDP and employed over 29 million people worldwide,” Peller said.

“According to the National Bureau of Statistics (2016), Nigeria’s GDP in 2015 amounted to N94 trillion. Analysis of the data from the report indicates that the creative industries jointly contributed about N5 trillion to broadcasting (29.6%) and motion pictures, sound recording, and music (22.8%).

“Nigeria’s film sector (Nollywood) is one of the active creative industries regarded as a major force in the country’s economic growth and the strongest claim to global influence within the creative industries which contributes about 2% to the country’s GDP, generates annual revenue of N208 billion and offers legitimate employment to over one million people making the sector the second largest employer after agriculture.”

Peller said the creative industry is challenged by a lack of “intelligible policy”, adding that urgent steps must be taken to strengthen the sector.

The motion was adopted when it was put to a voice vote by Femi Gbajabiamila, speaker of the house.

Following the adoption of the motion, the house resolved to convene a summit — with the creative industry and the federal government in attendance — to generate practical and far-reaching policies to boost the revenue generation capacities of the creative industry.