Shettima Urges African Countries to Turn Creative Talents into Economic Wealth

Shettima Urges African Countries to Turn Creative Talents into Economic Wealth

Vice President Kashim Shettima has called on African countries to transform the continent’s growing global influence in arts, music, film, fashion and literature into sustainable economic wealth through investment, job creation and expanded international trade.

He said the Federal Government, under President Bola Ahmed Tinubu, was strengthening intellectual property protection, improving access to finance for creative businesses and positioning Nigeria to benefit from opportunities under the African Continental Free Trade Area (AfCFTA).

Shettima made the call on Thursday, November 5, 2026, while declaring open the 2026 Creative Africa Nexus (CANEX) Weekend at the Wole Soyinka Centre for Culture and Creative Arts, National Theatre, Iganmu, Lagos.

The Vice President, who represented President Tinubu at the event, said Africa must move beyond celebrating its creative achievements and focus on turning its cultural influence into businesses, commercial opportunities and lasting prosperity.

“In 1977, we came to celebrate our culture. In 2026, we come to capitalise it: to turn the applause of the world into contracts, its admiration into markets, and the talent of our young people into enduring wealth,” he said.

He described Nigeria’s hosting of CANEX Weekend for the first time as recognition of the country’s growing influence in the creative economy and an opportunity to attract investment and strengthen trade partnerships across Africa.

Shettima said the Federal Government was working through the Ministries of Industry, Trade and Investment, and Arts, Culture and the Creative Economy, alongside other relevant institutions, to create an enabling environment for creative businesses.

He explained that the measures included stronger intellectual property protection, improved access to finance and efforts to position Nigeria as a leading player in creative trade under AfCFTA.

“Creativity is now a trade sector, and we intend to treat it as one,” he stated.

The Vice President commended the African Export-Import Bank (Afreximbank) for supporting the continent’s creative industries, recalling that the 2024 CANEX gathering in Algiers attracted nearly 4,000 participants from 81 countries and facilitated deals worth more than $540 million.

He also disclosed that Afreximbank had committed $2 billion to Africa’s creative industries through 2027, describing the investment as a strategic step towards developing the sector.

“That is not sentiment. That is strategy,” he added.

Recalling the historic FESTAC ’77 celebration held at the National Theatre nearly five decades ago, Shettima said Nigeria had earned international recognition through the creativity and hard work of its filmmakers, musicians, designers, writers and cultural entrepreneurs.

He noted that CANEX Weekend 2026 would also help prepare the ground for the fifth Intra-African Trade Fair, scheduled to hold in Lagos in 2027, where investment agreements and commercial partnerships are expected to promote trade across the continent.

The Vice President urged African creatives to use the gathering to secure business opportunities and establish lasting partnerships rather than leave with memories alone.

“To our creatives: do not leave Lagos with memories alone. Leave with a signed term sheet, a distribution deal, a buyer’s handshake. The world is ready to pay for what you make,” he said.

He also encouraged investors and financial institutions to support emerging African creative businesses, noting that the continent had the potential to produce globally competitive creative companies.

Shettima further called on African governments to remove barriers restricting the movement and commercial distribution of creative products across national borders, particularly films, music and other cultural content.

In his remarks, Lagos State Governor, Babajide Sanwo-Olu, described the hosting of CANEX Weekend 2026 as further recognition of Lagos as a major centre of Africa’s creative economy.

He said the return of the event to the National Theatre, which hosted activities during FESTAC ’77, highlighted Lagos’ longstanding contribution to the promotion of African arts and culture.

Sanwo-Olu commended Afreximbank’s $2 billion commitment to the creative industry and reaffirmed his administration’s commitment to supporting the sector through favourable policies, intellectual property protection, improved access to finance and stronger institutional partnerships.

Also speaking, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said Nigeria’s creative industry had gained significant international recognition, citing Davido’s performances at London’s O2 Arena, Burna Boy’s Grammy Award and Universal Music Group’s investment in Mavin Records as examples of the sector’s commercial potential.

She said the Federal Government was implementing policies to ensure Nigerian creatives benefit more financially from their intellectual property and creative works.

Oduwole also highlighted Nigeria’s designation as co-champion of the AfCFTA Protocol on Digital Trade and the Federal Government’s approval of the country’s first National Intellectual Property Policy.

She disclosed that the government was working to unlock more than $600 million in financing for digital and creative enterprises.

On his part, the President and Chairman of the Board of Directors of Afreximbank, Dr George Elombi, reaffirmed the bank’s commitment to developing Africa’s creative industry through financing, strategic partnerships and improved access to international markets.

He described Nigeria as one of the continent’s leading creative centres, particularly in music, film, arts and culture, adding that young entrepreneurs would benefit from the investment and networking opportunities provided by CANEX Weekend.

The event brought together government officials, creative industry stakeholders, investors, financial institutions and entrepreneurs from across Africa to explore opportunities for investment, business partnerships and the growth of the continent’s creative economy.

Shettima Urges African Countries to Turn Creative Talents into Economic Wealth