FG targets global markets, investment through creative economy

—-Mulls to use CANEX 2026 to boost creative exports, jobs

By Johnbosco Agbakwuru

ABUJA —THE Federal Government on Tuesday On Tuesday, announced plans to leverage Nigeria’s hosting of the Creative Africa Nexus (CANEX) Weekend 2026 to accelerate the global expansion of the country’s fast-growing creative industry, attract foreign investment, and generate new export revenue and employment opportunities.

Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, said the government is prioritising stronger financing, intellectual property commercialisation and improved market access for Nigeria’s creative businesses as it seeks to capture a larger share of the economic value from the country’s music, film, fashion and other creative industries.

Briefing State House correspondents at the presidential villa, Abuja ahead of the November 5–8 event in Lagos, Oduwole said CANEX would connect creators and creative enterprises with investors, financiers, technology firms, distributors and international markets.

She said the government considers the creative economy central to its broader ambition of building a $1 trillion economy, stressing the need for Nigeria to convert its vast cultural influence and creative talent into greater economic value.

According to her: “For the Government of the Federal Republic of Nigeria and all states of the Federation, CANEX is much more than a celebration of African creativity. It is a platform for trade, investment, enterprise and market access.”

“We want to see partnerships formed, financing mobilised, intellectual property commercialised, businesses entering new markets and Nigerian creative enterprises scaling beyond our borders.”

Oduwole explained that the changing structure of the global economy, where increasing value is being created through technology, services, intellectual property, content and culture, presents Nigeria with an opportunity to convert its already formidable creative influence into businesses and exports.

She said: “Nigeria is already a major source of African music, film, fashion and creative content. The opportunity before us is to capture more of the economic value generated by that creativity.”

According to the minister, this would require closing existing gaps between creators and the financial system, investors, distributors, technology companies and international markets, explaining that CANEX had consequently been structured as a business and investment platform rather than merely a cultural exhibition.

The four-day event is expected to cover music, film, fashion, gastronomy, literature, visual arts, sports and technology, with dedicated engagements on investment, financing, enterprise development and access to markets.

She said preparations had assumed a whole-of-government dimension because of the range of institutions required to build an internationally competitive creative economy.

“It is literally like hosting the Olympics or the World Cup. The creative economy does not sit within one ministry or one institution. For creators and creative businesses to compete globally, the entire ecosystem must work,” she said.

The Federal Ministry of Industry, Trade and Investment is working with the Federal Ministry of Arts, Culture, Tourism and the Creative Economy, alongside institutions responsible for foreign affairs, finance, customs, immigration, monetary policy and the National Theatre, as well as the Lagos State Government.

Security, health, transportation, immigration and hospitality agencies have also been brought into preparations for the event, which is expected to attract about 10,000 participants from Nigeria, other African countries and beyond.

Oduwole said the involvement of the Nigerian Governors’ Forum, the National Economic Council and all 36 states would give CANEX a national outlook, with each state expected to operate a pavilion showcasing its products, enterprises, culture and investment opportunities alongside private-sector exhibitors.

“We want creators, investors, businesses, young people and partners from across Nigeria to participate and take advantage of the opportunities that CANEX presents,” she said.

Lagos State, meanwhile, said it had begun putting health, emergency-response, transportation and traffic-management measures in place to accommodate the expected influx of participants.

Permanent Secretary in the Lagos State Ministry of Commerce, Cooperatives, Trade and Investment, Tudioni Bandu, said infrastructure and the environment around the venue were being upgraded, while relevant state agencies had been mobilised to ensure smooth movement and showcase the state’s creative and cultural strengths.

“Lagos is not only the Centre of Excellence; it is a state that weaves and showcases all the cultural values that Nigeria is noted for,” Bandu said.

On health arrangements, Dr Olumide Shojiri, who represented the Lagos State Commissioner for Health, Prof. Akin Abayomi, said disease surveillance and emergency-response mechanisms had been activated ahead of the gathering.

He said Lagos would draw on experience gained from managing major public-health emergencies, including Ebola and COVID-19, while medical facilities around the venue and accommodation areas would be strengthened for emergency response.

The State Health Information Platform, working with relevant immigration authorities, would support information gathering and monitoring of visitors, while additional health personnel would be deployed and trained ahead of the event.

The Lagos State Emergency Management Agency will deploy ambulances to strategic locations, while first-aid stations will be established at the venue. Contingency arrangements have also been prepared for emergency evacuation and possible mass-casualty incidents.

The state Ministry of Transportation is similarly developing a traffic-management plan, including advance traffic advisories, diversions at strategic points and alternative routes to reduce disruption to residents and participants.

Officials said the road network surrounding the venue had been studied to accommodate the expected traffic pressure, with information platforms to provide motorists with updates on diversions, alternative routes and movement schedules.

The Federal Government also urged Nigerian creative businesses and entrepreneurs to take advantage of CANEX to showcase their products, establish international partnerships and penetrate new markets.

This year’s CANEX will coincide with the 50th anniversary of the construction of the National Theatre, built ahead of the Second World Black and African Festival of Arts and Culture, FESTAC ’77.

Officials said the milestone would provide an opportunity to celebrate the landmark facility while linking CANEX 2026 with preparations for the 50th anniversary of FESTAC ’77, which will be commemorated during the 2027 Intra-African Trade Fair in Lagos.

Oduwole said both CANEX and the planned hosting of the trade fair formed part of Nigeria’s wider strategy to strengthen its position as a destination for African trade, investment and enterprise.

“These platforms give us an important opportunity to showcase what Nigeria produces, connect Nigerian businesses to African markets and demonstrate the scale of opportunities available in our economy,” she said.

Inviting investors, businesses and creative-industry stakeholders from Africa and other parts of the world to the event, the minister said Nigeria was ready to translate its creative influence into stronger commercial opportunities.

“Our invitation today is clear: come to Lagos from November 5 to 8. Come ready to connect, to invest, to trade and to do business. Nigeria is ready to welcome Africa and the world,” Oduwole said.