The Federal Executive Council has approved a landmark initiative that will transform Nigeria’s cultural, tourism, and creative economy industries. The Honourable Minister of Arts, Culture, Tourism, and the Creative Economy, Hannatu Musa Musawa, Esq., announced this following the council meeting yesterday at the State House.
The newly approved Creative & Tourism Infrastructure Corporation (CTICo) is a Special Purpose Vehicle (SPV) established under a Public-Private Partnership (PPP) framework to address critical infrastructure needs within Nigeria’s creative and tourism sectors. This initiative aligns with Presidential Priority 7 under President Bola Ahmed Tinubu’s Renewed Hope Agenda, focusing on accelerating economic diversification through creative arts, tourism, and innovation.
Collaborative Efforts for Sustainable Development
To ensure CTICo’s success, the Ministry of Arts, Culture, Tourism, and the Creative Economy has engaged various development partners and international stakeholders. These collaborations aim to foster innovative strategies for infrastructure development and financing, laying a strong foundation for the growth of Nigeria’s creative and tourism industries.
Ambitious Goals to Drive Economic Growth
CTICo is set to revolutionize Nigeria’s creative and tourism sectors with the following objectives:
Generate $100 billion for the Nigerian economy
Create 2 million jobs across creative and tourism industries
Attract global investments, nurture local talent, and promote Nigeria’s cultural heritage on the world stage
Key infrastructure projects include:
Rehabilitating Obudu Resort and Yankari Game Reserve
Developing the Abuja Creative City
Establishing 5,000 cinema screens nationwide
Creating a Creative City at the Wole Soyinka Center in Lagos
Launching a Centre for African Arts
Implementing a Digital Distribution Network
Upgrading the National Gallery
Expanding the National Arena to a 100,000 seating capacity
These projects are designed to bridge the infrastructure gap in Nigeria’s creative and tourism industries, creating opportunities for artists, entrepreneurs, and investors while enhancing Nigeria’s cultural influence globally.
Strong Governance for Effective Management
The Nigerian Government, through the Ministry of Finance Incorporated (MOFI), will hold a 25-49% minority stake in CTICo, ensuring strategic oversight while preserving operational independence. The corporation will operate as a limited liability company, guided by a competent Board of Directors and a management team with extensive experience in the creative, tourism, and related sectors.
CTICo’s governance structure follows successful models from other Public-Private Partnerships, ensuring transparency, accountability, and efficient management of resources. This framework will enable CTICo to effectively monitor investments and oversee the implementation of key projects.
Driving Social Impact and Global Recognition
Beyond its economic contributions, CTICo will deliver broad social and cultural benefits. The corporation’s initiatives will:
Generate employment and entrepreneurial opportunities
Enhance cultural exports and strengthen Nigeria’s global influence
Promote inclusive growth and social cohesion
Ensure environmental sustainability across all projects
With a clear focus on infrastructural development, talent cultivation, and global cultural promotion, CTICo is poised to become a cornerstone of Nigeria’s creative and tourism sectors, driving the nation into a new era of innovation and sustainable growth.
