Edo creative industry rakes in N500m

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Governor Obaseki of Edo State.

Stakeholders and entertainment actors in Edo State have valued the revenue accrued to the sector in 2021 to about N500 million owing to the growing opportunities and investment attracted to the creative and entertainment industry during the period.

A cross-section of stakeholders, who spoke with journalists, said the entertainment sector in the state has continued to record impressive growth, which is creating job opportunities for youths in the state.

The growth, analysts say, is attributable to the ingenuity of youths who are harnessing opportunities in the digital economy, especially skit-making and comedy on social media; active nightlife with growing hospitality sector; improved business environment facilitated by reforms of the Governor Godwin Obaseki-led administration, particularly in the provision of security and the inflow of Diaspora receipts.

The analysts estimated that the sector would have generated up to N500m in revenue from digital revenue, show tickets and other sources.

Cumulatively, the concerts organized in the state in the last quarter of 2021 witnessed not less than 30,000 attendants who graced sold-out music and comedy shows, among others.

Chief Executive Officer (CEO) of Engraced Events and Entertainment, Emmanuel Itoto, said the entertainment sector in the state has continued on an upward trajectory, recording a lot of activity in the previous year.

 

 

valoa2000@yahoo.com

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