Lagos records N50bn cash transactions from creative sector

Lagos records N50bn cash transactions from creative sector

Thursday, December 28, 2017 9:30 pm

One Lagos Fiesta

The Lagos State Government says it recorded N50 billion cash transactions from the creative sector in the first three weeks of December.

Mr Steve Ayorinde, the state Commissioner for Information and Strategy, said in a statement on Thursday in Lagos that the figure was sourced from the reports monitored by the state government.

Ayorinde said that the peak in entertainment activities and the influx of people from neighboring states and the Diaspora on holiday visits impacted positively on the economy.

“Reports monitoring the current trends show multi-billion naira spending in hotel accommodations across the state.

“Alcohol and beverage consumption as well as culinary business; visits to resorts, parks, clubs and lounges, live theatre and cinemas; fees for musicians, their handlers and technical staff.

“It also includes ancillary businesses like fashion and clothing, kiddies’ games and toys, specialised taxis and private security guards that all contribute into the tourism and entertainment sectors.
“What this cash-enabled December has shown is a massive growth in the creative economy sector in Lagos State.

“The entire state is agog, hotels are fully booked from Victoria Island to Ikeja, Epe and Badagry.

“There is a renewed sense of fun among the citizens and visitors.

“The volume of entertainment content being created for the pleasure of the citizens and media is unprecedented right from the beginning of the month,” Ayorinde said.

The commissioner said that the ongoing One Lagos Fiesta featuring more than 700 artistes, was also an extra-ordinary entertainment value chain that was impacting on the pockets and wellbeing of people.

“This remarkable development is not only in tandem with the vision of the Ambode-led administration to make Lagos the creative nerve-centre in Africa.

“It is also to assure corporate sponsors and tourists that the state security and social infrastructure can support the ever growing creative economy landscape.

“This government has found a nexus between art and prosperity.

“Part of what we have done with care in the past two and half years is to develop and nurture the entertainment value chain that feeds the creative economy of the state.

“We are aware and happy that industries in the creative economy supported more than 500,000 direct, indirect and induced jobs in the past 30 months.

“This cut across music promotion, live entertainment, motion picture, digital media, live theatre and cinemas as well as fashion and culinary businesses.

“The night economy has fully returned and every part of the state is feeling the impact of government in terms of participation in the arts, infrastructural development, security and social amenities,” he said.

Ayorinde urged residents who were trooping out daily to places of interest to follow police’s advice to be vigilant, exercise caution and moderation and be law-abiding.

He assured them that the crime-free situation in the state would be sustained throughout the year in order to maintain its preeminent position as the preferred destination of choice in West Africa.

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