By Olayinka Latona

The Founder and Chairman of Proshare LLC, Dr. Olufemi Awoyemi, has called on the Nigerian government to harness the potential of the human and creative industries to drive economic growth and development.

Speaking at the 16th Founder’s Day Annual Lecture and Award ceremony of the Bible Society of Nigeria (BSN), held at Shepherd Hill Baptist Church, Obanikoro, Lagos, Dr. Awoyemi delivered a presentation themed “Diversification and Production: Panacea to Nigeria’s Economic Quagmire.”

He lamented the underutilization of Nigeria’s human capital, despite having a population of over 200 million people, the majority of whom are youth. He attributed this to systemic failures in governance, education, healthcare, and job creation.

Curriculum Reform and Creative Arts Integration

Dr. Awoyemi emphasized the need for a review of Nigeria’s school curriculum to equip young Nigerians with skills for a rapidly evolving global economy. He advocated for the integration of creative arts into education to nurture the next generation of talent.

Focus on Creative Industry

Urging the government to invest in the creative industry, Dr. Awoyemi noted its potential to address economic hardship and unemployment. He highlighted the exponential growth of sectors such as music, film, fashion, and art, despite the lack of adequate government support.

“The success of the creative industry is a testament to the resilience of Nigerian youth who thrive despite systemic challenges. However, these industries face structural issues like inadequate infrastructure, limited funding, weak intellectual property protections, and a lack of structured policies,” he said.

He added that a cohesive national strategy is necessary to integrate human and creative capital into Nigeria’s broader economic framework.

Nollywood and Global Recognition

Dr. Awoyemi praised the contributions of Nollywood and Nigerian music to the country’s GDP, noting that the film industry is possibly the third largest in the world by volume, while Nigerian music continues to gain global recognition.

Calls for Hope and Moral Leadership

BSN patron, Dr. Yakubu Gowon, represented by the society’s President, Bishop Timothy Banwo, urged Nigerians to remain hopeful and patriotic despite the current economic challenges. He called on leaders to uphold righteousness, justice, and love.

“I urge Nigerians to keep hope alive and put absolute trust in God to help Nigeria overcome her current challenges,” Gowon said.

Reducing Oil Dependency

Chairman of NEM Insurance Plc, Mr. Tope Smart, who chaired the event, expressed concern over Nigeria’s dependence on oil revenues. He stressed the need for diversification, warning that reliance on oil was unsustainable due to its volatility in the international market.

“It is not sustainable to depend on oil because its prices are beyond our control. As a nation, we need to be intentional about diversifying our economy,” he said.

The event underscored the importance of creative industries and a diversified economy as essential pillars for Nigeria’s future prosperity.