In a groundbreaking initiative, the Ministry of Art, Culture, Tourism, and Creative Economy has partnered with the Ministry of Finance Incorporated (MOFI) to unlock the economic potential of Nigeria’s cultural assets.
This collaboration seeks to generate new revenue streams for the government, attract investment opportunities, and integrate cultural heritage into the national economy. The project will systematically catalog, appraise, and securitize Nigeria’s artistic and cultural assets, including heritage sites, festivals, artworks, digital content, and intellectual property.
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Dr. Armstrong Ume Takang, Managing Director and CEO of MOFI, underscored the significance of this initiative, describing it as a transformative step for Nigeria’s creative economy.
“For too long, our nation’s artistic wealth has been admired but undervalued. This partnership will awaken Nigeria’s creativity, monetize dormant assets, and position culture as a key economic driver,” Takang stated.
He highlighted the global potential of Nigerian art, referencing the sale of Ben Enwonwu’s painting Tutu for £1.2 million at a London auction in 2018, while much of Nigeria’s own national collection remains undocumented and underutilized.
Minister of Art, Culture, Tourism, and Creative Economy, Barrister Hannatu Musa Musawa, emphasized that the initiative aligns with President Bola Ahmed Tinubu’s broader economic agenda and the ministry’s vision of elevating culture as a pillar of national development.
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This strategic partnership could mark a turning point in Nigeria’s cultural and economic landscape, positioning the country’s rich heritage as an engine for sustainable growth.
