Global Courant
Within the melodious waves of Afrobeats, the artistry of our film producers and the majestic skills of our athletes lies an undeniable truth: Nigeria’s creative industry is a gold mine ripe for investment.
The vibrant pulse of Nigeria’s creative industry is no secret. Yet there is a palpable sense that we are only scratching the surface. As the world increasingly turns its attention to our shores, Nigeria’s time has come to shine brightly on the world stage.
President Bola Ahmed Tinubu’s transformative leadership is a cornerstone of this newfound optimism. Speaking at the 78th UNGA, he aptly highlighted the challenges that Africa, and Nigeria in particular, has faced. These challenges included both internal governance issues and external influences that were often exploitative. But as he said, Nigeria does not wait for the world. Instead, it opens its doors to fair and mutually beneficial partnerships.
You can witness firsthand the president’s commitment to changing the narrative. His comments at the G20 in New Delhi, accompanied by securing commitments of nearly $14 billion from Indian investors, make one thing clear: Nigeria is open for business. Not just any company, but targeted investments that create jobs, promote innovation and stimulate sustainable economic growth.
Foreign governments are particularly interested in the creative sector. The recent visits of British Foreign Secretary Rt. Hon James Cleverly, Member of Parliament and US Deputy Secretary of the Treasury, Wally Adeyemo, which included roundtable discussions with industry leaders and visits to Ogidi Studios, underlined the recognition of Nigeria’s potential at the government level. When we welcomed these eminent personalities to Ogidi, it was not just a courtesy call; they signified the realization that the Nigerian story is being reshaped by its creative and entrepreneurial forces. They recognized the value proposition, the enormous talent and the potential returns.
Nigerian artists are not only making waves; they cause tsunamis worldwide. Rema’s groundbreaking 1 billion streams on Spotify, Asake’s triumph at the O2 Arena, Wizkid’s electrifying performance at Tottenham Stadium, Tiwa Savage’s royal presence and performance at King Charles’ coronation, Davido’s Puma endorsement and Burna Boy’s Grammy win are just the top of the day. iceberg. They symbolize a nation bursting at the seams with potential.
Yet the talent does not stop with music. Tobi Amusan continues to shine at international circuit competitions and recently won the Diamond League. Anthony Joshua, Israel Adesanya and Kamaru Usman are their opponents’ nightmares in the ring. Victor Osimhen’s great performance at Napoli once again showcases Nigeria’s sporting talent. Every global brand was once just a local talent. Your favorite football club or basketball team has become global thanks to the hard work, passion and financial backing of visionaries and investors. Nigeria is a goldmine of such local talents, waiting for the right platforms, investments and partnerships to grow into global icons.
The key to progress lies in investing in both infrastructure and skills development; this is the recipe for success. As we develop our infrastructure, it is imperative that we simultaneously nurture our musicians, actors and athletes, as well as the coaches, officials and crews who support them.
These elements are interdependent; one cannot flourish without the other. A skilled coach, leading a skilled team and equipped with a prime venue, attracts fans who spend money on tickets, food and drinks, boosting the local economy. For those who cannot be physically present, television broadcast rights ensure inclusivity. Furthermore, such versatile venues can double as concert arenas, showcasing the dynamism of the trade.
You might wonder: why is now the right time to invest?
The answer lies in the changing nature of content and its potential as collateral. We are already seeing content owners granting licenses to major streamers and being paid in installments. The inherent power of these agreements could soon serve as substantial financial instruments, strengthening economic structures. The reliability and strength of these agreements have earned the trust of banks, signaling a transformative shift in the way we view and value content. Imagine a world in which the next global hit, the next cinematic masterpiece, becomes not just an emblem of cultural pride, but a tangible asset that enriches both the creator and the investor.
While Disney’s original ‘Black Panther’ film may not have invested directly in Nigeria or Africa, the sequel showcased Nigeria’s powerful creative prowess, with a significant portion of the iconic music being created at our Ogidi Studios. Esteemed composer Ludwig Göransson, known for his award-winning work on films such as ‘Fruitvale Station’, ‘Creed’ and ‘Tenet’, was so impressed by our abilities that he incorporated many elements we had recorded – from evocative chants to war percussion and whistles. . Given the successful partnerships and world-class infrastructure we offer, I foresee our upcoming studio becoming the destination of choice for future international blockbusters. This transformation underlines Nigeria’s emergence as a lucrative investment hub in the global creative arena.
In an era where “content is the new crude,” Nigeria’s reservoir is deep. The investment potential is not just limited to entertainment. With rapidly growing sectors in technology, e-commerce, agriculture and more, the opportunities will only increase.
As the world stands on the cusp of a new era, the Nigerian dream is becoming an exciting reality. It invites investors, makers, innovators and dreamers to join a journey that promises unparalleled returns and an opportunity to shape the future.
The fabric of Nigeria’s rich heritage, combined with its unparalleled potential, makes the country a beacon for investment. Our artists and athletes have shown what is possible on the world stage. Now is the time for the world to invest in the limitless potential that lies within our shores. These opportunities will only increase, and the world must be willing to embrace them.
In the words of President Tinubu: “We are ready to give you the best possible return on investment; There is no other country like our country.” The Nigerian renaissance has indeed arrived and is ripe for investment.
Idris Olorunnimbe is the Founder and Group Chief Executive of The Temple Company, owners of Ogidi Studios
About The Temple Company and Ogidi Studios:
Founded in 2016, The Temple Company is a leading global, full-service creative powerhouse headquartered in the vibrant city of Lagos, Nigeria. Temple’s extensive reach spans several industries, including entertainment, media, film/video production, events, arts and sports.
Located in the vibrant heart of Lagos, Ogidi Studios is an international quality facility for recording, film production, animation and writing. This studio is a response to the infrastructural needs of the Nigerian talent industry, bridging gaps and setting benchmarks.
This article was written by: Idris Olorunnimbe, Founder and Group Chief Executive of The Temple Company, owners of Ogidi Studios
