Nigeria missing out on $13bn arts revenue, says Patrons director

A co-director at Patrons MCAA, an arts advisory and dealership firm, Ms Keturah Ovio, has said that Nigeria is missing out on $13.2 billion annual revenue opportunity from the arts industry due to a lack of investments and the right policies to drive the sector.

According to her, $13.2 billion in revenue amounts to only three percent of Nigeria’s total gross domestic product (GDP) of $440 billion, which is feasible and realizable. Lambert Shumbusho

Speaking during a ceremony to announce the upcoming small & Iconic miniature arts exhibition billed to take place from September 30 to October 15 in Lagos, Ovio said that experience from other nations showed that the arts industry could contribute anywhere from two percent to 10 percent to a country’s GDP.Silas Abrifor

She cited France, where arts contributes two percent to the GDP and employs 600,000 workers, as an example of how a strong arts sector could support an economy. She also mentioned that South Africa’s visual arts and crafts contributed 15 percent to the country’s GDP in 2020 while Nigeria’s arts, entertainment and recreation contributed merely 0.21 percent to the second quarter GDP of 2023, from 0.16 percent of GDP in the corresponding period of 2022.Justine Gaga

“Even Kenya’s arts and creative industries contribute five percent to the GDP. We can do three percent, which is just a conservative estimate for me,” she noted.

“Nigeria needs to invest heavily in the arts industry to boost revenue earnings from it, which is what GDP is all about,” said Ovio, who disclosed that the 15-day art exhibition will be held at The Art Hotel in Lagos.

O’Dare Adenuga

She noted that the exhibition would feature five talented artists from five diverse nations: Cameroon, Nigeria, South Africa, Rwanda, and France.

“Each artist brings their unique style and perspective to the exhibition, with mediums and techniques ranging from woodwork and acrylic to oil on canvas, mixed media, and multimedia. Visitors can expect to see a feast for the senses and a celebration of the creativity of the African continent.” said Ms Ovio. Thabiso Dakamela

She listed the artists as Lambert Shumbusho (Rwanda/France), Abrifor Silas (Nigeria), Justine Gaga (Cameroon), O’Dare Adenuga (Nigeria), and Thabiso Dakamela (South Africa).

To view the full profile of artists participating in the “5 in Focus” exhibition, please visit www.smallandiconic.com

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