France sees big investment potential in Nigeria’s creative sector

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Nigeria’s creative industry holds immense potential for foreign direct investment (FDI) if properly harnessed, said Laurent Favier, the Consul General of France in Lagos.

Speaking ahead of the MIPCOM 2024 Cannes event, scheduled for October 21-24 at the Palais des Festivals, Favier highlighted the opportunities available for Nigerian content creators and industry professionals at the world-renowned entertainment market.

During the press conference in Lagos, Favier emphasized the unique opportunities MIPCOM presents for Nigerian creatives, noting that past and prospective participants are positioned to capitalize on the event’s global platform.

He recalled that the French Embassy has supported Nigerian Animation Studios at the Animation Film International Market in Annecy for the past three years, and will once again provide an umbrella for Nigerian industry professionals at MIPCOM 2024.

“The Nigerian Pavilion in Cannes will host more than 15 studios showcasing their movies, TV series, and shows to international broadcasters and platforms,” Favier said. “This initiative, coordinated with the Nigerian International Film and TV Summit (NIFS), underscores France’s ongoing support for Nigeria’s burgeoning creative sector.”

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The diplomat also highlighted the Creation Africa program, a French government initiative designed to support entrepreneurship in Africa’s cultural and creative industries. “This program enables us to provide ongoing support to Nigerian content creators, helping them access new international markets and opportunities,” Favier added.

Nigeria’s delegation to MIPCOM 2024 will include approximately 20 companies with dedicated stands, bolstered by support from the French Embassy and NIFS. Favier described MIPCOM as the “mother of all entertainment content markets,” noting that the event attracts over 11,000 delegates and 3,000-4,000 buyers from 100 countries.

“MIPCOM offers high-level conferences, B2B meetings, and invaluable networking opportunities over four days. It’s a platform where Nigerian creatives can push their industry to the global forefront and forge new partnerships,” Favier said.

Ijeoma Onah, founder of the NIFS, echoed Favier’s optimism, emphasizing that the presence of a Nigerian Pavilion at MIPCOM will open doors for international business and collaboration. “The licensing of local programs at this global market will significantly enhance the international distribution opportunities for Nigerian companies,” Onah said.

As Nigeria continues to establish itself as a creative hub, Favier and Onah expressed confidence that the MIPCOM 2024 event will serve as a critical platform for driving foreign investment into Nigeria’s film, television, and content sectors. With France’s continued support, they believe Nigerian content can resonate globally and transform the country’s creative economy.


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