Assessing the Financial and Global Contributions of Nigeria’s Music Industry

Abstract

Like any other in the world, the Nigerian music industry attracts enormous economic capabilities and draws enormous global recognition. This is evidenced by the increasing record sales and performance of players in the industry, both contemporary and gospel which i s recording high performance and breaking financial limitations, adding value to Nigeria’s struggling economy. This paper examines the music business and the current trends in Nigeria. To effectively address these identified trends, it discusses these sub topics; description of the Music industry; Contributing facets of the music industry in Nigeria; collaborations between Nigerian artists and international artists; assisting the music industry with their frame and scales; notable Nigerian artists that have propelled the growth of music industry; the diversity and genres of the Nigerian music industry; and the challenges facing the music industry. It was discovered that the music industry in Nigeria urgently needs a thorough engagement to drive and contribute to the development of the nation’s economy, which is in dire need of resources to drive its development agenda. It recommends, among others, that to boost the music industry in the country, the government should formulate and enforce official policies ab out copyrights to deter the activities of pirates, which limits the enormous resources which should accrue to the artist and the country.