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CBNs National Theatre boost to economic growth
2025-04-25 20:45:03| Spiritual Career Counseling
By Babajide Komolafe, Economy EditorNigerias economy is set to experience a major boost following the transformation of the National Theater and the commencement of the Lagos Creative and Entertainment City, courtesy of a N22 billion financing by the Bankers Committee. Data from the National Bureau of Statistics, NBS, showed that the creative industry contributed just N987.1 billion or 1.28 per cent to the nations economy in 2024. These comprise: N181.4 billion from the Arts, Entertainment And Recreation sector; and N805.7 billion from Motion Pictures, Sound recording and Music production.However, the contribution of the two sectors is far below their potential contribution to the economy. It is estimated that the two sectors that make up the creative industry, if properly harnessed, can contribute $25 billion or N38.75 trillion to the economy.This potential is reflected in the record crashing revenue generated by movies like Everybody Loves Jennifer which attracted N1,88 billion a...
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