Business School Hails Nigeria’s Entertainment Industry as a Model for Global Export

What started in the bustling neighbourhoods of Lagos — with young Nigerians turning passion into performance, music into magic, and stories into silver screen sensations — has now become one of the most inspiring economic success stories in Africa.

The Rome Business School Nigeria has released a groundbreaking report recognizing the Nigerian entertainment industry as not just a creative force, but a “global model for export.”

Titled “The Entertainment Business in Nigeria: A Model for Export,” the report paints a vivid picture of how Nigeria’s musicians, filmmakers, digital creators, fashion designers, and comedians have quietly redefined global culture — one beat, one scene, and one trend at a time.

“What’s happening in Nigeria is extraordinary,” said Prof. Anthony Ragusa, Founder and Dean of Rome Business School. “The entertainment industry has achieved global influence without waiting for permission — with passion, innovation, and grit.

It’s an economy of imagination.”And it’s paying off. According to the report, the sector — valued at $9 billion in 2023 — is projected to grow to $13.6 billion by 2028, with a growth rate of 8.6% annually.

Over 4.2 million Nigerians already work in the creative economy, and another 2.6 million jobs are expected by 2025.For those watching the industry closely, this growth is no surprise.

“We’re not just exporting songs or movies — we’re exporting pride, identity, and the heartbeat of a generation,” said Mr. Olakunle Asunmo, General Manager of Rome Business School Nigeria.

“What you hear in Afrobeats, what you see in Nollywood, is Nigeria refusing to be ignored.”Nollywood, producing over 2,500 films annually, now contributes ₦154 billion to Nigeria’s GDP.

Meanwhile, Afrobeats, once a niche genre, has become a global cultural currency — heard in clubs in Berlin, blaring from speakers in Brooklyn, and remixed by global pop icons.“Nigerian music is no longer local,” said Sam Igwe, Head of Academics at Rome Business School Nigeria.

“It’s international, it’s inspiring, and it’s reshaping how the world sees Africa.”Indeed, the world is watching — and listening. Words like “wahala” and “na who send you?” have found their way into global slang. Jollof rice is on menus in London.

Lagos-inspired dance moves are trending on TikTok. It’s cultural diplomacy by rhythm, fashion, and flair.

“For decades, we waited for others to define us. Now, our culture is doing the talking,” added Ragusa. “This is a form of national power — soft power — and it’s growing faster than oil exports ever did.”

The report credits much of the industry’s success to Nigeria’s digital transformation. Streaming platforms, social media, and online collaborations have replaced traditional gatekeepers, giving young talents direct access to global audiences.But the journey hasn’t been easy.

“This success came despite government neglect, not because of support,” Asunmo noted. “Piracy, infrastructure gaps, and limited financing still threaten the future of this industry.

“We need policies that treat creativity as serious business.”Igwe echoed that call, adding: “Just imagine what could be achieved if creators had access to reliable power, tax incentives, or even working broadband. The potential is limitless — if we just clear the path.”

The ripple effect of the industry is vast. From tourism and fashion to food and hospitality, Nigerian entertainment has fueled an ecosystem of entrepreneurs. Hotels fill up during movie premieres.

Tailors ride the wave of fashion trends sparked by music videos. Makeup artists, sound engineers, cinematographers, podcasters, and stylists are earning livelihoods — and dreaming bigger.The industry’s influence has also extended to gender equality and youth leadership.

“We’re seeing women take center stage — not just as performers, but as producers, directors, digital creators,” said Igwe.

“They’re rewriting narratives, inspiring girls, and claiming space.”Podcasts — once rare — have now become a thriving medium, with more than 300 active Nigerian podcasts covering everything from politics and mental health to street gossip and innovation.

“This is the new Africa,” Ragusa said with pride. “It’s loud, bold, and unapologetically creative. Nigeria’s entertainment industry is its megaphone — and the world is finally listening.”

Looking ahead, Rome Business School projects that Nollywood could produce over 3,000 films annually by 2030, as AI tools, international co-productions, and diaspora partnerships deepen.

Afrobeats, meanwhile, is expected to remain one of the world’s top-streamed genres. But beyond the data and projections, the Rome Business School leaders agree on one thing: this is more than business.

It’s a national story of resilience, self-expression, and unrelenting brilliance.“Our message is simple,” Asunmo concluded.

“Nigeria can export more than oil. We can export stories, culture, joy — and we already are.”“Let the world take note,” Ragusa added. “Nigeria’s entertainment industry is not just vibrant — it’s visionary. It’s time we treated it that way.”