By Laraba MUREY
The Federal Government has approved the establishment of the Creative and Tourism Infrastructure Corporation, CTIC, to develop key infrastructure for Nigeria’s creative and tourism industries under a public-private partnership.
The initiative, which was presented by the Minister of Art, Culture, Tourism, and the Creative Economy, Hannatu Musawa, at Monday’s Federal Executive Council, FEC, meeting, is expected to drive economic growth, create jobs, and project Nigeria’s cultural heritage globally.
According to Musawa, CTIC’s primary goal is to provide the necessary infrastructure for the creative sector to generate $100 billion for the Nigerian economy and create two million jobs.
“The establishment of CTIC marks a significant milestone in our journey to unlock Nigeria’s economic potential. We are committed to providing the necessary infrastructure to support the growth of our creative industries and promote Nigeria’s cultural heritage and creative output globally,” Musawa said.
She noted that President Bola Tinubu’s administration is focused on diversifying the economy beyond oil by tapping into Nigeria’s creative and cultural wealth.
“Everyone talks about Nigeria’s creativity. Our content is globally celebrated, from Nollywood to Afrobeats. But what we lack is the infrastructure to support and sustain this growth. Imagine the impact if events like ‘Detty December’ in Lagos were backed by world-class infrastructure. The value would be exponential,” the minister added.
The CTIC will operate as a limited liability company, with the Nigerian government holding a minority stake of 25-49% through the Ministry of Finance Incorporated (MOFI). It will be governed by a Board of Directors and management team with expertise in the creative sector.
Key projects under CTIC include the rehabilitation of Obudu Resort and Yankari Game Reserve, the development of Abuja Creative City, the establishment of 5,000 cinema screens, the creation of a Creative City at the Wole Soyinka Center in Lagos, and the launch of a Centre for African Arts.
The ministry has also engaged international partners, including AFREXIM, IFC, World Bank, AfDB, AFD, the EU, Ford and Rockefeller Foundations, and UNESCO, to explore innovative financing options for these projects.
With FEC’s approval, the government is set to work with investors and stakeholders to make the vision a reality, ensuring that Nigeria’s creative and tourism industries receive the necessary infrastructure to thrive.
