VP Shettima: It’s Time To Stop Giving Africa’s Rich Culture Away For Free

STATE HOUSE PRESS RELEASE

VP Shettima: It’s Time To Stop Giving Africa’s Rich Culture Away For Free

…Declares CANEX Weekend 2026 open in Lagos, challenges creatives to turn global cultural influence into wealth

Vice President Kashim Shettima has called on African countries to transform their growing global cultural influence into sustainable economic wealth, saying the continent must move beyond celebrating its creative achievements to building industries that generate jobs, attract investment and expand international trade.

He said the administration of President Bola Ahmed Tinubu is strengthening intellectual property protection, expanding access to finance for creative enterprises and positioning Nigeria to benefit from opportunities under the African Continental Free Trade Area (AfCFTA).

Speaking on Thursday during the official opening of CANEX Weekend 2026 at the Wole Soyinka Centre for Culture and Creative Arts, National Theatre, Iganmu, Lagos, Senator Shettima said Africa must translate its creative talents and global recognition into lasting economic prosperity.

“In 1977, we came to celebrate our culture. In 2026, we come to capitalise it: to turn the applause of the world into contracts, its admiration into markets, and the talent of our young people into enduring wealth,” he said.

The Vice President, who represented President Tinubu at the continental gathering, said Nigeria’s global influence in film, music, fashion and literature must be matched by deliberate investment, stronger institutions and access to international markets.

He described Nigeria’s hosting of CANEX Weekend for the first time as recognition of the country’s growing influence in the creative economy and an opportunity to deepen investment and trade partnerships.

“Our duty as a government is to match this with policy. Through the leadership of the Federal Ministry of Industry, Trade and Investment, the Ministry of Arts, Culture and the Creative Economy and in collaboration with other ministries, we are strengthening the protection of intellectual property, widening access to finance for creative enterprises, and positioning Nigeria to lead creative trade under the African Continental Free Trade Area. Creativity is now a trade sector, and we intend to treat it as one,” he stated.

Senator Shettima commended the African Export-Import Bank (Afreximbank) for its commitment to financing creative enterprises, noting that the 2024 CANEX gathering in Algiers attracted nearly 4,000 participants from 81 countries and facilitated deals worth over $540 million.

He disclosed that Afreximbank has committed $2 billion to Africa’s creative industries through 2027, describing the investment as evidence of the sector’s growing economic importance.

“That is not sentiment. That is strategy,” he added.

Recalling the historic FESTAC ’77 celebration held at the National Theatre nearly five decades ago, the Vice President said Nigeria had earned its place in the global creative industry through the ingenuity of its filmmakers, musicians, designers, writers and other cultural entrepreneurs.

“This standing was not inherited. It was earned, through the industry and ingenuity of our people,” he said.

He further noted that CANEX Weekend 2026 would help lay the groundwork for the fifth Intra-African Trade Fair, scheduled to take place in Lagos in 2027, with investment agreements and commercial partnerships expected to strengthen trade across the continent.

Challenging African creatives to prioritise commercial opportunities, VP Shettima said, “To our creatives: do not leave Lagos with memories alone. Leave with a signed term sheet, a distribution deal, a buyer’s handshake. The world is ready to pay for what you make.”

He also urged investors to support emerging African creative enterprises, saying, “To our investors and financiers: the next great global creative companies will come from Africa. Back them early, and back them here.”

The Vice President called on African governments to dismantle barriers restricting creative trade within the continent, stressing the need to make African films, music and other cultural products more accessible across national borders.

“The Nigeria you will experience this week, vibrant, confident and open for business, is the Nigeria we are building every day,” he stated.

In his remarks, Lagos State Governor, Mr. Babajide Sanwo-Olu, described the hosting of CANEX Weekend 2026 as further recognition of Lagos as a major centre of Africa’s creative economy.

He said the event’s return to the National Theatre, which hosted activities during the historic FESTAC ’77, underscored Lagos’ longstanding role in promoting African arts and culture.

The Governor noted that the theme of the gathering emphasised cultural unity and the need to translate Africa’s global creative appeal into markets, investment and wealth.

He commended Afreximbank’s $2 billion commitment to Africa’s creative industries and reaffirmed his administration’s resolve to support the sector through enabling policies, stronger intellectual property protection, improved access to finance and institutional collaboration.

Also speaking, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said Nigeria’s creative industry had achieved significant international recognition, citing Davido’s performances at London’s O2 Arena, Burna Boy’s Grammy Award and Universal Music Group’s investment in Mavin Records as examples of its commercial potential.

She said the Tinubu administration was prioritising policies that would enable Nigerian creatives to retain greater economic value from their work.

According to her, Nigeria’s designation as co-champion of the AfCFTA Protocol on Digital Trade, alongside the Federal Government’s approval of the country’s first National Intellectual Property Policy, would strengthen the protection and commercialisation of creative products.

The Minister further disclosed that the Federal Government was working to unlock over $600 million in financing for digital and creative enterprises.

On his part, President and Chairman of the Board of Directors of Afreximbank, Dr. George Elombi, reaffirmed the bank’s commitment to strengthening Africa’s creative industry ecosystem through financing, partnerships and improved market access.

He described Nigeria as one of Africa’s leading creative hubs, particularly in music, film, arts and culture, noting that young creative entrepreneurs stood to benefit from the investment and networking opportunities offered by CANEX Weekend.

Stanley Nkwocha
Senior Special Assistant to the President on Media & Communications
(Office of the Vice President)
5th November, 2026