The Nigeria entertainment industry years back have been lacking the strength in productivity and in every country entertainment industries are seen as major contributor to country’s GDP. It serves as the main source of income in every country as 98% (Percentage) of the people in the world believe so much in entertainment.
Nigeria is highly blessed with talented individual in the entertainment industry but, have been lacking some strength to do more in the productivity part.
Since the entertainment industry is contributing to the growth of GDP(Gross Domestic Product) in Nigeria, there is so much need to revamp the entertainment industry. According to a recent report, the Nigerian media and entertainment industry is currently estimated at $4 – $5 billion and still growing higher, through this revenues are also earn.
It is known that the oil and gas industry is the most powerful industry that generates high rate of income in Nigeria but, some years back during Goodluck Ebele Johnathan’s regime the entertainment industry was not left back, it was the immediate big industry after Oil and gas industry in terms of generating income. The revamp of entertainment industry in Nigeria can actually help in reducing recession in Nigeria.
It was stated in some report time ago in Lagos State of Nigeria, that the industry that produces high revenue rate is the Nigeria media and entertainment industry. Therefore, the need to revamp entertainment industry in Nigeria is very important so as to grow the Nigeria income rate and not to focus only on oil and gas industry.