The Ministry of Art, Culture, Tourism, and Creative Economy has partnered with the Ministry of Finance Incorporated (MOFI) to unlock the economic potential of Nigeria’s cultural assets. This partnership aims to drive economic transformation and growth in the cultural and creative sectors. According to Dr. Armstrong Ume Takang, Managing Director/Chief Executive Officer of MOFI, this collaboration will awaken Nigeria’s creativity and heritage, activating its dormant cultural assets.

The partnership seeks to catalog, value, and securitize Nigeria’s cultural assets, generating new income streams for the government and creating investment opportunities for Nigerian citizens. This initiative recognizes the economic value of Nigeria’s cultural heritage, which has been previously undervalued. For instance, a single Enwonwu painting, ‘Tutu,’ sold for £1.2 million at a London auction in 2018, while Nigeria’s national art collection remains largely uncatalogued and unvalued.

The Minister of Art, Culture, Tourism, and Creative Economy, Barrister Hannatu Musa Musawa, noted that the project aligns with the ministry’s strategies. She emphasized that Nigeria’s cultural heritage holds the key to its future prosperity, and this partnership will help unlock that potential.