Experts, Stakeholders Harp on Impact of Nigeria’s Creator Economy on ‘Oil Revenue Dependence’

L-R: Digital Strategist /Content Creator; Tobi Ayeni, Chief Economist, Coronation Merchant Bank Chinwe Egwim; MD/CEO, AT3 Resources; Tosin Adefeko, Digital Content Creator, Frank iTom and Corporate Communications Manager, Anglophone West Africa, Meta, Oluwasola Obagbemi.

Speakers after speakers, the coast seems now clear that the creator economy of Nigeria has the potentials to stifle
the dependence of Government at level on oil revenue, a trend that has kept most states in the country in the backdoor of development.


At the ongoing AfricaNXT in Lagos, Southwest Nigeria in one of session hosted by strategic communications and events consultancy, AT3 Resources, and with the theme: “The Creator Economy: What Next After Social Media?” industry experts, tech creators, and digital specialists, revealed how technology can create prosperity highlighting the numerous opportunities for creators to develop alternate sources of income.

Moderating the session, Founder and Chief Executive Officer, AT3 Resources, Tosin Adefeko said, “Before the advent of the creator economy, many of today’s creators would have been unemployed; creators for many years just engaged in their passions; now people can unlock their creative potential and give it value. As the country seeks to diversify its economy away from the dependency on oil revenues, we are simply excited to be able to bring this conversation to the frontburner at AfricaNXT 2023”.

Chief Economist, Coronation Merchant Bank, Chinwe Egwin, described the creator economy asan evolving concept that will assist to boost job creation in Nigeria and if properly harnessed will likely compete with the oil industry.

“The creator economy is borderless and creators need to seize the opportunities out there to promote their craft. However, to avail themselves of the opportunities, creators must ensure that they build the right structures required for their business to thrive”, Egwin said.

According to the Creative Director of Frank iTom Creatives, Frank iTom, creators need to explore new tools, carve a niche that sets them apart and remain consistent in their craft.

Similarly, a Tech Creator, Oluwatobi Ayeni, noted that Artificial Intelligence (AI) is beginning to contribute significantly to the creator economy by helping creators create, edit and distribute content online.

“The possibilities are endless and looking at what the future holds, there will be an increase in competition and strict regulations, so the best time to start creating is now”, she said.

Highlighting the myriad of opportunities that abound for potential and existing creators across Africa, Oluwasola Obagbemi, Corporate Communications Manager, Anglophone West Africa, Meta, said “The digital space is constantly changing and as such content creators must also evolve.”

She noted that the Metaverse is one platform that creators can explore to create amazing content and it opens doors to several opportunities for creators to learn and collaborate. Also, Meta has created resources that will enable creators to improve and monetise their content online.

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