Partnership Between MOFI and Culture Ministry to Monetize…

The Ministry of Art, Culture, Tourism, and Creative Economy has partnered with the Ministry of Finance Incorporated to monetize Nigeria’s cultural assets. This collaboration aims to unlock the economic potential of both tangible and intangible heritage, creating new revenue streams and investment opportunities. Dr. Armstrong Takang emphasized the significance of recognizing and valuing Nigeria’s rich cultural wealth.

The Ministry of Art, Culture, Tourism, and Creative Economy has entered into a Memorandum of Understanding (MoU) with the Ministry of Finance Incorporated (MOFI) to capitalize on Nigeria’s cultural assets. This initiative aims to unlock the significant economic potential inherent in both tangible and intangible cultural resources, stimulating growth within the cultural and creative sectors.

During the signing ceremony held at the Bank of Industry House, Dr. Armstrong Takang, Managing Director and Chief Executive Officer of MOFI, emphasized that this agreement is designed to revive Nigeria’s creative heritage and activate dormant cultural assets. The plan involves cataloging, valuing, and securitizing these assets to generate new revenue streams and investment opportunities for the Nigerian populace.

Dr. Takang remarked that Nigeria stands at the beginning of a new era, where the recognition of its cultural wealth can lead to substantial economic transformation. He reflected on how the nation has overlooked its artistic treasures, which represent not mere ornaments but viable economic prospects. He cited the sale of an Enwonwu painting, ‘Tutu,’ for £1.2 million, highlighting the untapped value of Nigeria’s National collection, which remains largely unassessed.

This partnership is anticipated to forge a pathway for transforming cultural pieces into vital economic resources. Dr. Takang concluded by stating, “This Memorandum of Understanding between MOFI and FMACCE isn’t just a partnership; it’s a clarion call to awaken the sleeping giants of our nation’s creativity and heritage,” positioning the initiative as crucial for prosperity.

In summary, the collaboration between the Ministry of Art, Culture, Tourism, and Creative Economy and MOFI marks a significant step towards monetizing Nigeria’s cultural assets. By valuing these resources, the initiative aims to boost economic growth and create sustainable investment opportunities while highlighting the country’s rich artistic heritage as a valuable asset. This MoU signifies a commitment to awakening Nigeria’s dormant cultural potential, driving economic transformation in the process.

Original Source: leadership.ng