Ckrowd: Creative & tourism infrastructure corporation puts private sector in driver’s seat

Nigeria's entertainment industry is at a pivotal moment with the recent approval of the creative and tourism infrastructure corporation. Kayode Adebayo, Founder and CEO of Ckrowd.com, sees this as a significant step that places the private sector at the forefront of driving growth and development. In a recent interview with CNBC Africa, he emphasized the importance of leveraging Nigeria's creative potential and capitalizing on the evolving Detty December phenomenon. The establishment of the creative and tourism infrastructure corporation signals a positive shift towards enhancing the investment landscape in the entertainment sector. Adebayo commended the government for its role in creating a more balanced approach that combines policy frameworks with private sector participation. He noted the impressive progress made by key players in the music and film industries, highlighting the international recognition garnered by Nigerian artists and filmmakers. One key aspect of this initiative is the inclusion of the private sector in a leading role within the corporation. Adebayo underscored the significance of this public-private partnership (PPP) structure, which aims to address critical infrastructure gaps in the industry. By allowing private investors to have a controlling stake in the corporation, there is a renewed focus on mobilizing funding to support necessary infrastructure development. This move is expected to boost opportunities for artists and create a conducive environment for economic growth within the sector. The limited availability of quality infrastructure has been a longstanding challenge for Nigeria's entertainment industry. Adebayo pointed out the lack of suitable venues for major events and performances, leading to potential revenue losses and missed economic opportunities. With the establishment of the creative and tourism infrastructure corporation, there is optimism for improved infrastructure that can cater to the needs of local artists and attract global audiences. Furthermore, Adebayo emphasized the need for a strategic approach towards engaging the diaspora community and harnessing their potential impact on Nigeria's entertainment landscape. He highlighted the business aspect of music and film, stressing the importance of viewing these sectors as industries with specific production and distribution requirements. By implementing targeted strategies for diaspora engagement, Nigeria can leverage the diverse talents and resources of its diaspora population to enhance the overall growth and competitiveness of its entertainment sector. In conclusion, Adebayo's insights shed light on the transformative opportunities presented by the creative and tourism infrastructure corporation. As Nigeria continues to solidify its position as a hub for creativity and innovation, the partnership between the public and private sectors will be crucial in unlocking the full potential of the country's entertainment industry. With a strategic focus on infrastructure development and diaspora engagement, Nigeria is poised to capitalize on its rich cultural heritage and position itself as a global leader in the creative economy.