AOT 5.0: Lagos Eyes Q1 2024 for Signing of Innovation Bill, Reels Out Initiatives to Boost Creative Industry
The Lagos State Governor, Babajide Sanwo-Olu has disclosed that it would expedite action to ensure that the state’s innovation bill is signed into law in the first quarter of 2024 to help accelerate the growth of the creative industry and also create employment opportunities.
He made this known at the Art of Technology Lagos (AOT 5.0) held at Landmark Event Centre, Victoria Island, Lagos with the theme “The Creative Economy and a Digital Lagos”.
He also stated that his administration has commenced plans to build the Lagos Film City earmarked at $100 million. He said upon completion the project will boost the creative industry considering the huge opportunity it offers. Recall, that the announcement was first made in October this year.
He added that aside from the Lagos Film City, some of its initiatives aimed at accelerating the growth of the creative industry include its Investment in infrastructure and technology across the state, collaboration with the World Intellectual Property Organisation (WIPO) to support Intellectual Property Rights, a dedicated Lagos State Science, Research, and Innovation Council (LASRIC) cohort for the Creative Economy and the Lagos Innovation Bill, among others have yielded positive results.
In his words, “Lagos has solidified its status as Africa’s foremost fashion and creative hub, emblematic of our shared commitment to technological advancement. Notably, the music industry has burgeoned into the second-largest in Africa, boasting an annual revenue exceeding $2 billion. This achievement is underscored by our artists receiving prestigious accolades such as Grammys, and the proliferation of international streaming services attests to the industry’s global resonance.
“The transformative impact of technology on Lagos’s development is profound. Over the past decade, technology has propelled a remarkable 500 percent increase in productivity across pivotal sectors, ranging from agriculture to manufacturing. Our smart city initiatives have not only enhanced the efficiency of public services but have also significantly elevated the overall quality of life for our residents.
“Our journey towards a Digital Lagos propelled by the Creative Economy is backed by robust figures and data. It is a collective endeavor that requires the synergy of government, industry, academia, and civil society. Together, we will build a future where innovation knows no bounds, where creativity flourishes, and where the digital heartbeat of Lagos resonates across the globe.
“I trust that the discussions initiated at this conference, along with the resulting outcomes, will pave the way for a threefold increase in the value of the creative ecosystem. May this gathering serve as a guiding beacon, directing us toward a future where the convergence of technology and creativity collaboratively shapes a brighter tomorrow for the residents of Lagos State.”
Also speaking at the event, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani said the federal government will collaborate with the state government to grow the creative industry leveraging technology to redefine the industry.
On his part, Lagos State Commissioner for Innovation, Science and Technology, Olatubosun Alake said some of the challenges
highlighted by stakeholders will be looked into as the state continues to implement different initiatives that
will help boost the creative industry.
Renowned Filmmaker, Kunle Afolayan, applauded the Lagos State government for some of its initiatives, stating that the N1 billion seed capital given to filmmakers to boost the creative has started to yield positive results. However, he pointed out that the government needs to do better in the area of tax collection from filmmakers by understanding how the industry works.
Art of Technology Lagos is an annual tech conference curated by the Eko Innovation Centre led by Victor Gbenga Afolabi. and powered by the Lagos State Government – the economic epicenter of Nigeria.