Nigeria’s Creative Economy Could Triple Again But Policies Must Catch Up- Steve Babaeko
At the NECLive 2025 , advertising executive and industry leader Steve Babaeko said Nigeria’s creative and entertainment sector is on the brink of another growth leap but only if government policies begin to match the industry’s potential.
Babaeko noted that many of the country’s biggest hits emerge from “some of the cringeest studios you’ll ever see,” the results continue to shape global culture. “Most people just want to criticise Nigeria,” he said. “Yes, we have resource challenges, but we also have an abundance of talent and creativity.”
According to him, the industry’s trajectory shows what’s possible with the right support. A decade ago, Nigeria’s creative economy was valued at roughly $4–5 billion. Today, the sector generates $14–15 billion, effectively tripling in size without the benefit of strong formal structures. Yet it still contributes only 1.2% to Nigeria’s GDP as of 2023 — far below its potential.
Babaeko warned that despite these gains, most of the platforms, publishing systems, and data infrastructure enabling African creators’ success are still owned outside the continent. This imbalance limits value capture and keeps creators dependent on foreign systems.
He also highlighted persistent gaps in legal protections. Many Nigerian creators, he said, continue to struggle with copyright violations, slow IP processes, and the daily hustle of sustaining their careers.
“We need policies that actually protect creativity,” Babaeko said. “Yes, we have IP laws, but the system needs to be deconstructed, modernised and fast-tracked. And we need incentives for the people doing the real work in the creative space.”
He argued that with the right policies, Nigeria could accelerate the next stage of its creative boom one driven not just by talent, but by an ecosystem designed to keep value within the country.
