The Tony Elumelu Foundation (TEF) has given the background to Tuesday’s Memorandum of Understanding (MoU) for the development of Nigeria’s creative industries, which it signed with the Federal Ministry of Information and Culture at the National Theatre in Iganmu, Surulere. Minister Lai Mohammed and TEF Chairman Tony O. Elumelu, CON signed for their respective organisations.

A TEF statement issued today in Lagos reiterated that the partnership would enable the Foundation to provide structural support to encourage innovation, growth and productivity of Nigeria’s creative industries.

“The partnership will provide a framework for bringing creative industry stakeholders together with investors, financiers and business leaders to transform the creativity of industry entrepreneurs into a profitable sector capable of attracting international collaboration and contributing consistently to the national economy,” the statement said.

During the signing, the Alhaji Mohammed had said: “My ministry recognises the urgent need to develop Nigeria’s creative industries and increase its contribution to the national economy. Nigeria currently has creative industries but no creative economy. This partnership will leverage the experience of the private sector to help the creative industries retain the commercial opportunity and the financial benefits.”

The statement disclosed that in April, the minister approached TEF with a challenge: “How can we work together to help transform the currently underdeveloped and unstructured creative industry ecosystem into an organised and profitable pool of creative industries that provide meaningful employment to thousands of Nigerians?”

The Foundation’s response is the framework which undergirds the MOU, the statement said.

While speaking at Tuesday’s event, Mr. Elumelu, who is also Chairman of Heirs Holdings and UBA Plc, said: “Without doubt, Nollywood is a global leader and our young musicians are emerging as international sensations with serious earning potential. Nigerians are good at starting creative businesses, but they lack the capacity to scale, proper business management and the investment necessary to become self-sustaining. This partnership will provide the framework for building business capacity and attracting sustainable investment.”

Also speaking at the event, the CEO of the Foundation, Parminder Vir, OBE, expressed her optimism at the future of the creative industry in Nigeria. A seasoned filmmaker herself, Ms. Vir stated, “Nigeria has an abundance of creative excellence, talent and cultural IP in film, television, music, fashion, ICT, performing arts and this partnership is designed to support the growth of this sector for leading businesses, facilities, entrepreneurs and institutions engaged in the fast growing sector.”

The event was well attended by several industry representatives including luminaries like Joke Silva, Zeb Ejiro, Obi Asika, Ali Baba, D’Banj, Chioma Ude, Nimi AkinkugbeRalph Nwadike, Audu Maikori, Princess Dolapo Oni Sijuwade and more.

•Photo shows, L-R; Ace Comedian, Ali Baba; Film Producer, Zeb Ejiro; CNN Anchor, Zain Asher; Renowned Actress, Joke Silva; Minister of Information, Culture and Tourism , Alhaji Lai Mohammed; Chairman Heirs Holdings and Founder, The Tony Elumelu Foundation(TEF), Mr. Tony Elumelu; Nigerian Film Maker, Mahmood Ali-Balogun; CEO, The Tony Elumelu Foundation(TEF), Mrs Parminder Vir; and Ace Musician, Oladapo Daniel Oyebanjo (aka D’banj), at the signing of Memorandum of Understanding between the Nigerian Ministry of Information, Culture and Tourism and the Tony Elumelu Foundation to develop a framework in support of the Nigerian creative industry, which was held at the National Arts Theatre, Lagos on Tuesday.

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