The National Assembly, NASS, is committed to passing laws that support private businesses and help the country’s creative industry expand, according to Ovie Omo-Agege, the Deputy Senate President, who made the announcement yesterday.
He bemoaned the fact that, while being the continent’s leader in the production of raw content, Nigeria is not doing enough to monetize it through production, distribution, or royalties.
Senator Omo-Agege speaking at the Nigerian Electronic Media Content Exhibition and Award, NEMCEA, 2022, said, “This is the biggest event for electronic media content and the film industry, which is expected to hold yearly to bring stakeholders globally in the media industry space, to buy, sell, collaborate, aggregate, and exchange ideas around content. I commend the Electronic Media Content Owners Association of Nigeria, EMCOAN, for this initiative.
“Nigeria is no doubt a clear leader in raw content production in Africa. Nollywood, Hip Hop, Afrobeat, and our Comedians testify to this. But we are not doing enough to monetize them either through production, distribution, or royalty collection. It is also obvious that we need to be more aware that video, not television, is now more consumed by the younger people who make up a large percentage of the entertainment market.
“A recent survey done in over 42 countries revealed that expected video consumption on devices over the next 3 years will grow 45 percent on Mobile, 45 percent on internet-enabled TV, 40% on Tablet, and 36 percent on Laptop computers. Traditional TV grew by 0%! This led the researchers to conclude that video is not only increasingly consumed from the internet, but it is also clearly going mobile.
“Let me assure you that this National Assembly is committed to making laws that encourage private enterprises, including, of course, helping to grow the creative industry and turning it into a creative economy.”
The President of EMCOAN, Mrs. Jibe Ologeh, stated that “NEMCEA Is a very important and strategic media content event which brings together global stakeholders in the Media industry within and outside Nigeria to buy, sell, collaborate, aggregate, exchange ideas on content and also bring to fore issues and perspectives bordering on the media industry in Nigeria in particular and across Africa as a whole.
“It is noteworthy that despite being the biggest content generation hub of Africa, Nigeria has no content market to cater for its ever-growing electronic media content and film industry, this is the vacuum NEMCEA is here to fill. Being an annual event it will serve as a marketplace for the trading of media content, film, and development of co-production partnerships locally and internationally.”