The Democratic Front (TDF), a prominent think tank, has expressed strong confidence that Nigeria’s creative and tourism industries will be instrumental in fast-tracking the country’s journey towards a $1 trillion economy under President Bola Tinubu’s administration.
Reacting to the Federal Executive Council’s (FEC) approval of the Creative and Tourism Infrastructure Corporation (CTIC), TDF hailed the decision as a transformative step towards economic diversification and rapid growth.
In a statement issued by its Chairman, Malam Danjuma Muhammad, the group described CTIC as a game-changer that will unlock vast opportunities across multiple sectors.
“The economic impact of this corporation cannot be overstated. It serves as a catalyst for job creation, poverty reduction, and cultural preservation,” Muhammad said. “By promoting Nigeria’s rich heritage—traditional crafts, music, and arts—it will elevate the country’s global creative standing.”
TDF highlighted the recent Grammy win by Nigerian artist Temilade Openiyi (Tems) as proof of the nation’s untapped creative potential. It believes the corporation will further harness and monetize Nigeria’s artistic and tourism assets, positioning them for global recognition and investment.
Beyond boosting local enterprises, TDF anticipates a surge in tourism-driven trade and investment, reinforcing Nigeria’s economic resilience. The corporation is expected to reduce reliance on crude oil by fostering innovation in tourism products and services, empowering local businesses, and driving foreign direct investment.
“This initiative aligns with global sustainability efforts, making Nigeria an attractive hub for eco-conscious investors,” the group stated. “With support from international stakeholders, the corporation will champion eco-friendly tourism, ensuring sustainable development.”
The CTIC will operate under a public-private partnership (PPP) model, drawing investments from both local and international sources. Tasked with delivering essential infrastructure for the creative sector, its ambitious target includes generating $100 billion for Nigeria’s economy and creating two million jobs.
The Ministry of Art, Culture, Tourism, and Creative Economy is actively collaborating with global development partners—including AFREXIM, IFC, the World Bank, AfDB, and UNESCO—to develop cutting-edge infrastructure and financing solutions.
Structured as a limited liability company, CTIC will see the Nigerian government retaining a 25-49% minority stake through the Ministry of Finance Incorporated. A seasoned Board of Directors and expert management team will oversee its operations, ensuring efficiency and success in revitalizing Nigeria’s creative and tourism landscape.
With CTIC paving the way, Nigeria is poised for an economic transformation—one driven by creativity, culture, and innovation.
