Entertainment industry can bring foreign earnings for Nigeria — Dr Whyte Official
A Nigerian entertainment investor, Augustine Emeka Ugbaja, popularly known as Dr Whyte Official, has said that the entertainment industry as a money-spinner can earn foreign currency for Nigeria in a way it further boosts its dwindling economy.
Ugbaja, the CEO and founder of Southnice Records, said, at this period that the crude oil is not selling as it used to, there is a need to divest into other productive sectors of the economy which can liberate the company from its economic predicament.
According to him, if the government can invest in the entertainment industry, this will go a long way to raise its economic stake, saying, there are still many grounds to break with new opportunities lurking around.
“Let me say that Nigeria is a very rich country in both the human and material resources. And most of these resources are not yet tapped. We have talents around in the industry who are financially handicapped, yet, they have potentials who are money spinners.
“We can’t continue to focus on oil as a nation, even at a time we know the oil is not selling as it used to, forcing Nigeria to go for loans to meet up with governmental needs. The entertainment industry is a multi-billion dollar investment. Nigeria has a lot to gain here to augment the national purse if investments are made in it.
“Let me also encourage corporate bodies and the well to do individuals to invest their money where they are sure of gains. The entertainment industry is one that is helping many countries all over the world, including Nigeria, solve their unemployment problems, so, let’s encourage more participation in the industry.
He also charged the youthful audience intending to go into showbiz to emulate singers like Wizkid, Davido, Tuface Idibia, Tekno, Zlatan and the rest, all of who have acquired basic education and have gone ahead to solidify their educational backgrounds.
With the music export, cultural exchange, exhibition of products, and contents sales, which he said are areas government and active players in the industry can invest in, Ugbaja assured that these are where investors can have good returns for their money.
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