KEY POINTS
• President Bola Tinubu called for increased investment by the Bolloré Group in Nigeria’s film, entertainment and digital sectors.
• The Group confirmed plans to expand local operations in film, entertainment and fibre optic infrastructure.
• Tinubu said deeper localisation could increase production, investment and employment while strengthening Nigeria’s position in the global creative economy.
MAIN STORY
President Bola Tinubu has urged the Bolloré Group to expand its investment in Nigeria’s creative and digital economy, with particular emphasis on film, entertainment and fibre optic infrastructure.
Tinubu made the call during talks with Vincent Bolloré and executives of the Group in Paris on Friday, as part of his working vacation.
The Group has interests in media and digital businesses, including Canal+, MultiChoice and Universal Music, as well as investments in fibre optic infrastructure and related sectors.
During the meeting, the Group confirmed plans to deepen the localisation of its Nigerian operations across film, entertainment and fibre optic infrastructure.
Bolloré and his executives also outlined new investments focused on Nigeria, describing the country as a spearhead of Africa’s cultural renaissance.
They linked Nigeria’s growing influence in global culture to the international success of Nollywood and Afrobeats, as well as rising demand for Nigerian creative content.
The development was disclosed in a statement issued by Bayo Onanuga, the President’s Spokesperson, on Friday in Abuja.
Tinubu welcomed the planned expansion, saying Nigeria’s growing cultural influence presented significant economic opportunities that could be converted into greater local production and investment.
He said deeper localisation would create more opportunities for production and employment while strengthening Nigeria’s role in the global creative economy.
The President also restated his administration’s focus on economic development, job creation for young Nigerians and wider investment in digitalisation.
He said the government would continue to support investments capable of expanding the creative and digital economy, developing local talent and improving infrastructure.
According to Tinubu, increased investment could also strengthen Nigeria’s position as a base for businesses serving the African market and international markets.
THE ISSUES
- Greater local investment in film and entertainment could increase the amount of creative production carried out in Nigeria and create more opportunities for local talent and businesses.
- Expansion of fibre optic infrastructure would support the digital side of the creative economy, particularly businesses whose operations depend on reliable digital connectivity.
- The emphasis on localisation means more of the Group’s planned activity is expected to be rooted in Nigeria rather than being limited to serving the Nigerian market from outside the country.
- For young Nigerians, the economic significance lies in whether increased investment translates into more production activity, jobs and opportunities to develop commercially viable creative skills.
WHAT’S BEING SAID
“Greater localisation will bring more production, investment and jobs to Nigeria while strengthening its position in the global creative economy.”
- President Bola Tinubu
“The Renewed Hope Agenda is focused on creating an economy where Nigerian talent, enterprise and cultural reach generate greater opportunities.”
- President Bola Tinubu
WHAT’S NEXT
The Bolloré Group is expected to deepen its Nigerian operations across film, entertainment and fibre optic infrastructure as outlined during the meeting.
The administration is also expected to continue supporting investments aimed at expanding the creative and digital economy, developing local talent and strengthening infrastructure.
BOTTOM LINE
Tinubu is seeking to convert Nigeria’s growing global cultural influence into greater local production, investment and employment. The Bolloré Group’s planned expansion places film, entertainment and digital infrastructure at the centre of that effort.
