Local Arts Industry Charged to Contribute more to Nigeria’s GDP

 

By Nurat Uthman

An art advisory and dealership firm, Patrons MCAA, has charged the Nigerian art industry to aim at contributing more to the country’s gross domestic product (GDP) – estimated at $440 billion.

A director at Patrons MCAA, Ms Keturah Ovio, gave the charge while announcing an upcoming miniature art exhibition known as “small & Iconic” scheduled on June 23 at The Art Hotel Lagos Lagos.

Ohio said Nigeria’s global peers are doing better in arts due to their higher level of investment in and commitment to the industry. She explained that lack of investments in the Nigerian arts industry is stunting its growth, making it insignificant in terms of contribution to the GDP.

According to her, countries with a large GDP enjoy flourishing arts markets which engage many young and creative people in the economy.

“We have a sizable economy which is more significant than Singapore, with a GDP of $397 billion, but what are we doing to ensure that the arts industry grows alongside the economy? Singapore’s arts’ contribution to the GDP tripled to $1.3 billion between 1996 and 2015, according to the National Arts Council in the country. However, before then, many investments had been made by both the government and the private sector to advance the industry.

“For instance, about $51 million had been spent by the National Arts Council in grants, scholarships, and endowments, according to Sothebys. 

Consequently, attendance at paid art exhibitions increased to 1.9 million by 2015 from 750,000 in 1996. This is a testament that investments can improve the state of things,” she noted.

She, however, noted that the Nigerian art industry is dynamic, stressing those local art products are exported to different parts of the world, including London and Paris. She stressed that many young artists require funding and policy support to unleash their potential and talents, urging the government to intervene and make the industry more attractive.

On the forthcoming exhibition, Ovio said the event “will be exciting and educational as visitors will learn the new trends in the local arts industry. They will also see West Africa’s arts from some of the best in the industry,” she said.

Ovio listed the exhibitors as Anita Cudjoe (Ghana), Sotonye Jumbo (Nigeria), Adeola Balogun (Nigeria), and Collins Abinoro Akporode (Nigeria), noting they are among the best.