FG approves PPP initiative to develop Nigeria’s creative, tourism sectors
By Editor
THE Federal Executive Council (FEC) on Monday, January 3, 2025 approved the establishment of the Creative & Tourism Infrastructure Corporation (CTICO), a public-private partnership (PPP) designed to address infrastructure gaps in Nigeria’s creative and tourism industries.
The initiative, announced by the Honourable Minister for Culture, Arts, and Creative Economy, Mrs. Hannatu Musawa, aims to position Nigeria as a global hub for culture and entertainment while generating USD$100 billion in economic value and to create two million jobs.
Under the approved framework, CTICO will operate as a limited liability company, with the federal government retaining a 25% – 49% minority stake. Independent management will oversee operations, adopting governance models similar those of Nigeria Inter-Bank Settlement System (NIBSS) and Nigeria Liquefied Natural Gas (NLNG) to ensure transparency and efficiency.
Key projects under the initiative include the revitalization of Obudu Mountain Resort and Yankari Game Reserve, the development of the Abuja Creative City and the expansion of Nollywood through the installation of 5,000 new cinema screens nationwide. Additional plans include establishing the Wole Soyinka Creative City in Lagos, a Centre for African Arts, a Digital Distribution Network for creative content, and expanding the National Theatre Arena to a 100,000-seater capacity.
“CTICO is not just about infrastructure—it is a gateway to economic transformation,” Minister Musawa stated. “By bridging critical gaps, we aim to attract foreign investment, enhance Nigeria’s cultural exports, and create sustainable opportunities for millions in the creative and tourism sectors.”
The initiative comes amidst longstanding challenges in Nigeria’s creative industries, including inadequate facilities, limited investment and untapped global potential. Analysts say CTICO’s PPP model could replicate the success of Nigeria LNG, which transformed Nigeria into a major player in the global liquefied natural gas market.
