The Nigerian entertainment industry is projected to hit $13.6 billion by 2028, according to a new report by the Rome Business School Nigeria.
The study, titled “The Entertainment Business in Nigeria: A Model for Export,” highlights how Nigerian musicians, filmmakers, digital creators, fashion designers, and comedians are reshaping global culture.
Valued at $9 billion in 2023, the sector is expected to expand at an annual growth rate of 8.6 per cent, cementing its status as a global export model.
More than 4.2 million Nigerians are currently employed in the creative economy, with an additional 2.6 million jobs expected by 2025.
Commenting on the report, Founder and Dean of Rome Business School, Prof. Anthony Ragusa, said: “What’s happening in Nigeria is extraordinary. The entertainment industry has achieved global influence without waiting for permission — with passion, innovation, and grit. It’s an economy of imagination.
“For decades, we waited for others to define us, now, our culture is doing the talking. This is a form of national power — soft power — and it’s growing faster than oil exports ever did. Let the world take note, Nigeria’s entertainment industry is not just vibrant — it’s visionary. It’s time we treated it that way.”
The General Manager of Rome Business School Nigeria, Mr. Olakunle Asunmo, attributed much of the industry’s success to the country’s rapid digital transformation.
He noted that streaming platforms, social media, and online collaborations have dismantled traditional gatekeepers, giving young talents direct access to global audiences.
Asunmo, however, stressed that the journey has not been without challenges.
He noted that Nollywood, with more than 2,500 films produced each year, now contributes N154 billion to Nigeria’s GDP. He added that Afrobeats, once considered a niche sound, has evolved into a global cultural currency, resonating in Berlin nightclubs, echoing through Brooklyn streets, and being remixed by international pop stars.
Asunmo stated: “We’re not just exporting songs or movies — we’re exporting pride, identity, and the heartbeat of a generation. What you hear in Afrobeats, what you see in Nollywood, is Nigeria refusing to be ignored.
“Nigeria can export more than oil. We can export stories, culture, joy — we already are. Indeed, the world is watching — and listening. Words like “wahala” and “na who send you?” have found their way into global slang. Jollof rice is on menus in London. Lagos-inspired dance moves are trending on TikTok. It’s cultural diplomacy by rhythm, fashion, and flair.
“This success came despite government neglect, not because of support. Piracy, infrastructure gaps, and limited financing still threaten the future of this industry. We need policies that treat creativity as serious business.”
