Entertainment sector grows GDP by 1.4%

The Nigerian Export Import Bank said the creative and entertainment industry in Nigeria has high growth prospects which is evidenced in the 1.4 per cent contribution to the GDP and projection of double digit growth rate.
According to the bank, this informed the reason it provided over N1bn loan to support various projects along the value chains in the sector.
The Managing Director in a presentation made in Abuja said the amount was made available to the sector owing to the inherent opportunities and the high growth prospects of the industry.
He said the sector is projected to grow its contribution to double digit within the shortest time possible
Orya said in order to unlock the potentials of the sector, there is need to improve the funding commitment to the industry so as to reduce the level of unemployment and create wealth for the people.

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He said, “This is in addition to developmental initiatives, targeted at ensuring that the industry operates in a structured manner and within global best practices and standards.”
Orya stated that under his management, the bank has embarked on various strategic initiatives aimed at facilitating trade, deepening the regional market and unlocking opportunities in critical sectors of the economy.

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