NiDCOM Chairman Celebrates Small Business Success at NDIS7, Eyes Greater Diaspora Investment
Maryam Aminu
Day-two 7th Nigeria Diaspora Investment Summit (NDIS), held in Abuja, highlighted the remarkable growth of Nigeria’s creative industry, with box office revenues surpassing five billion naira as of September 2024.
NiDCOM Chairman, Abike Dabiri-Erewa, expressed her optimism about the summit’s potential to become an even greater platform for attracting diaspora investments in the coming years.
She celebrated the successes of small businesses since the inception of NDIS, noting their appeal to investors as a driving force for industry expansion and job creation.
Dabiri-Erewa emphasized the importance of supporting these enterprises as a means of curbing emigration by creating viable career options domestically.
“The success of small businesses is a joy to witness,” she remarked. “Each thriving enterprise represents jobs for Nigerians and reinforces our commitment to build opportunities that retain our brightest talents within the country.”
Dr. Patric Doyle, a veteran actor, echoed these sentiments while moderating a panel titled “Appraisal of Investment Prospects in the Nigerian Creative Industry.”
He celebrated the increasing impact of Nigerian cinema, which now accounts for 50.4% of box office revenue a testament to the talent and resilience of Nigerian filmmakers, actors, and producers.
Among the panelists, industry heavyweights underscored the lucrative prospects of Nigeria’s creative industry, encouraging further diaspora investment.
Idris Olorunnimbe, founder of The Temple Company, urged diaspora investors to contribute to infrastructure, skills, and talent development, noting the industry’s profitability and global appeal.
Ayo Animashaun, founder of Hip TV, highlighted the unprecedented success of Afrobeats, with Nigerian artists headlining sold-out concerts globally and generating impressive streaming revenue.
He called for a Nigerian-owned streaming platform and encouraged diaspora support for record labels and music festivals to capitalize on Afrobeats’ potential.
Filmmaker Niyi Akinmolayan, a Nigerian-Canadian, appealed for collaboration among local and international stakeholders to bring Nigerian cinema to a global stage, advocating for blockbuster productions filmed in Nigeria to showcase its landscapes and professional talent.
Richard Mofe Damijo (RMD), a Nollywood icon, underscored the importance of building trust between Nigerian businesses and the diaspora, envisioning growth that could expand beyond entertainment to sectors like agriculture and real estate.
He also encouraged government grants to support creative industry development, enhancing its sustainability.
Hollywood Director Foster Corder urged Nollywood to increase its marketing efforts, encouraging Nigerian filmmakers to proudly promote their content globally.
As the NDIS platform continues to grow, it aims to harness the power of diaspora investments across Nigeria’s vibrant sectors, empowering local talent, driving innovation, and contributing to the nation’s economic prosperity.
