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Integrating effective project management principles throughout the creative industry value chain can drive exponential growth by ensuring projects are delivered on time, within scope, and budget. Kolawole Fashola, an expert in experiential marketing and project execution, shared this insight during a project management masterclass organized by the Lagos State Government in collaboration with Gidi Creative Centre, an initiative of The Temple Company. The session was part of a 10-course training program aimed at empowering youth in the creative sector across the state.
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Fashola, who serves as Head of Business Affairs and Operations at The Temple Company, emphasized that Nigerian creatives have yet to fully harness strategic planning, risk management, and other project management fundamentals to enhance quality assurance.
“In managing creative projects such as events, productions, and partnerships, it’s critical to adopt project management practices like planning, risk assessment, collaboration, resource optimization, compliance, quality control, and evaluation. Efficiently managed projects are more likely to yield profitable returns, making them appealing to both current and potential investors,” he stated.
Fashola also highlighted the role of project management in building investor confidence within the creative industry. “Effective project management serves as a cornerstone for attracting investment by demonstrating reliability and professionalism, ultimately enhancing competitiveness in the sector,” he noted.
He further called for increased investment in upskilling Nigerian creatives, particularly those at the lower and middle tiers of the industry. Despite employing 4.2 million Nigerians, the creative economy contributed only 1.2% to the nation’s GDP in 2022, compared to countries like Egypt (4.3%), South Africa (3.0%), and Morocco (2.7%), according to the National Bureau of Statistics. The sector also generates minimal government revenue, accounting for just 1.0% compared to South Africa’s 12.5%.
Fashola praised initiatives like the Lagos State Government’s Gidi Creative Centre for addressing these gaps and fostering capacity development. “While the public sector is making commendable efforts, the private sector must also align to bridge the skills gap. The enthusiasm for learning among young creatives is a promising sign, but more collaborative efforts are needed to unlock the sector’s full potential,” he added.
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