Netflix, Amazon Prime and others invest in Nigeria

Nigeria has the potential to become one of the largest export markets for the US creative sector.

Ramin Toloui, assistant secretary for economic and business affairs, United States department of state, says the US government is willing to invest in Nigeria’s creative economy. The U.S. mission in Nigeria has been supporting the Africa International Film Festival (AFRIFF) to further strengthen the collaboration between the Nigerian and American film industries for nine years running. “Several US film and entertainment companies, such as Netflix, Amazon Prime, and Paramount, are making large investments in the Nigerian market and are seeing strong prospects for future investments. I want to see many more investments and increased commercial ties.”

The U.S mission has been providing funding for capacity-building training for emerging filmmakers and directors. Masterclasses for film directors have been run in Nigeria during the 2023 AFRIFF by US industry leaders.

What has driven this increased interest and investment? Nigeria has been focusing on ensuring that there is a system in place for intellectual property protection, enabling creatives to monetise their work and attract investment. In support of creativity, innovation and economic growth, the Nigerian President Muhammadu Buhari has confirmed partnership with the legislature to foresee the realisation of a workable legislative framework.

The Creative Industries Development Bill is currently being implemented, in respect of transforming of the Nigerian creative space.

Source: https://cida.ng & Nigeria’s creative industry has potential to become largest export sector– US official | Nigerian News, Latest Nigeria In News. Nigeria News. Your online Nigerian Newspaper. (nigerianeye.com)