The federal ministry of arts, culture and the creative economy and the Nigerian Economic Summit Group (NESG), have signed a Memorandum of Understanding (MoU) towards repositioning the art, culture, and creative economy sectors.

The MoU was signed by officials of both organisations at the ministry’s headquarters on Friday in Abuja.

The MoU was designed to strengthen collaboration between the two parties towards developing a united policy, governance, institutional, legislative and implementation framework for operations of art, culture, and the creative sectors.

The goal, according to the minister of art, culture and the creative economy, Hannatu Musawa, is to enhance the sectors’ contribution to the national economy.

Ms Musawa, who signed on behalf of the Federal Government, said that the partnership would unlock the vast potential of Nigeria’s creative economy.

Ms Musawa, who signed on behalf of the Federal Government, said that the partnership would unlock the vast potential of Nigeria’s creative economy.

She described NESG as a leading private sector-led think tank, dedicated to transforming Nigeria into an open, sustainable, and globally competitive economy.

According to her, the MoU is a bold step forwards fulfilling the mandate of the Ministry through partnership with critical stakeholders.

“Our collaboration with NESG is grounded in a clear set of objectives – to develop a robust governance structure for the art, culture, and creative industries.

“Together, we have co-created the policy thrust for the development of a comprehensive national policy on the creative economy aimed at guiding the development and regulation of Nigeria’s creative economy.

“This policy framework will provide strategic direction, outline key objectives, and establish regulatory mechanisms to foster growth, innovation, and sustainability within the creative sector.

“Once approved, the policy will be pushed to the National Assembly for their nod to establish the Act that will create a Central Authority for Art, Culture and the creative economy and establish a fund.

“Through strategic collaborations, forward-thinking policies, and dedication, we seek to unleash the complete potential of Nigeria’s creative sectors, championing enduring economic growth and cultural prosperity for future generations.”

On his part, the director of NESG, Udeme Ufot, who signed on behalf of the group, said that the MoU represents a significant innovation towards transforming the potential of the sector.

Mr Ufot is also the private sector co-chair, Tourism, Hospitality, Entertainment, Creatives, Culture and Sports Industries Policy Commission (THECCS) of NES.

He expressed confidence that the partnership would serve as a springboard for the growth of the sector.

“The effective implementation of the MoU would serve as a paradigm shift in the art, culture, and creative sectors of Nigeria’s economy.

“It is commencing with the public sector side, which shall witness the establishment and optimisation of the sectors’ governance frameworks.

“This will be achieved through reforms of policies, legislation, institutions, incentives, and human capacity development across relevant Ministries, Departments and Agencies.

“On the private sector side, the implementation of the MoU will result in game-changing industry reset for sector practitioners across the cultural and creative sectors value chain and ecosystem,” he said.

Earlier, Dr Tayo Aduloju, director-general and chief executive officer, NESG, said signing of the MoU followed a series of meetings, consultations, research, and stakeholder engagements.

Mr Aduloju explained that the specific task under the collaborative MoU would among other initiatives, make the Nigeria Creativity Week an annual event.

According to him, NESG has established a wide range of institutional collaborations and signed memorandum of understandings to drive economic growth and development across different sectors.

 (NAN)