Can show Business Redeem Nigeria’s Economy? – Rapper Poe shares his Opinion
Nigeria’s economy is in crisis. The naira has fallen over 50% in the last year alone. Oil revenues, the mainstay of Nigeria’s foreign earnings are at their lowest in the last two decades.
On the flipside, Nigeria’s entertainment market, powered mostly by movies and music has developed by 19.3% to achieve US$4 billion value. According to PwC the entertainment business in Nigeria would have expanded with approximately US$8.1 billion by 2019. Job creation in the entertainment industry is at all-time high – Creators, Writers, Directors, Producers, PR, Bloggers etc.
However, despite major growth, the potential in show business is vastly untapped. In the bid to diversify, should the government be looking to show business as one of the saviours of the economy?
We posed this question to Nigerian rap artiste Poe and he shares his opinion on the issue in the video above.