Empirical Analysis of the Economic Contributions of the Nigerian Music Industry to GDP: 2018 to 2023

📖 ABSTRACT/OVERVIEW

This study empirically analyses the economic contributions of the Nigerian music industry to national Gross Domestic Product between 2018 and 2023. Nigeria's creative economy, particularly its music sector, has received considerable attention as a potential driver of economic diversification in a nation historically dependent on petroleum revenues. Despite this policy interest, rigorous quantitative analysis of the music industry's GDP contribution, employment generation, and foreign exchange earnings remains sparse due to data limitations and informal sector measurement challenges. This research collates and analyses data from the National Bureau of Statistics, the Nigerian Export Promotion Council, streaming platform revenue reports, and entertainment industry association records. Secondary data analysis is complemented by semi-structured interviews with economists specialising in the creative economy and senior music industry executives. The study employs time-series analysis and sector contribution decomposition to estimate direct, indirect, and induced economic contributions of the music industry across the five-year period. Methodological challenges including informality, data gaps, and exchange rate volatility are explicitly addressed. The study draws on creative economy theory, cultural economics, and recent empirical literature on Africa's entertainment sectors. Findings will produce the most comprehensive available economic mapping of the Nigerian music industry and inform evidence-based policy for creative sector development. Keywords: Music industry economics, GDP contribution, creative economy, Nigeria, economic analysis.

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Departments# Music