The Lagos State Government says it is on the move to increase the entertainment industry’s contribution to the nation’s Gross Domestic Product (GDP) to six per cent by 2030.
Governor Babajide Sanwo-Olu of Lagos State said this on Wednesday, during the Groundbreaking Ceremony for the Lagos Film City at Ejirin, Epe Local Government Area.
Sanwo-Olu said the planned construction of the Lagos Film City was an intentional move towards ensuring that the entertainment industry increased its contribution to the country’s GDP.
He said that the entertainment industry’s contribution to the nation’s GDP currently stood at less than two per cent.
”We are projecting that by 2030, which is just a couple of years away, we should have close to five per cent to six per cent of the GDP of our country be controlled by the movie and the film industry.
”These are some of the steps that we need to do to put those numbers into perspective.
So, it is very intentional, that we, Lagos State have said that we will contribute our own part into that discourse and will ensure that in the next five to seven years, we achieve our own intervention in that sector,” the governor said.
According to him, the groundbreaking event marks a significant milestone in the journey towards creating a thriving and vibrant film industry that will not only captivate audiences worldwide but also contribute to the economic growth and cultural development of the state.
”Today, we embark on a journey that will redefine the landscape of the film industry in Lagos State.
”As we break the ground for this $100 million film city, covering a land area of 100 hectares of land and which will be executed on the Private Public Partnership model, we are laying the foundation for a creative hub that will serve as a catalyst for innovation, talent discovery, and storytelling excellence.
”This film city will be a testament to our commitment to nurturing the arts and supporting the dreams of aspiring filmmakers, actors, and technicians,” he said.
Sanwo-Olu said the film industry had the power to transcend boundaries and bring people together.
He added that it had the ability to inspire, entertain, and educate.
Sanwo-Olu said the film city would serve as a platform for talented artists to shine on both local and global stages.
According to him, the first Film City in Lagos State will create numerous job opportunities, stimulate economic growth, and attract investment.
”It will be a hub for film production, post-production, visual effects, and all the ancillary services that support the filmmaking process.
”We envision a film city that is equipped with state-of-the-art facilities, sound stages, editing suites, production offices, and everything necessary to bring the magic of the silver screen to life.
”But this film city is not just about bricks and mortar. It is about the people who will walk through its doors and breathe life into its spaces.
“It is about the dreams that will be realised, the stories that will be told, and the impact that will be made.
”Our creative community is the beating heart of this film city, and we are committed to providing them with the resources, support, and opportunities they need to thrive,” he said.
The governor called on all stakeholders – filmmakers, investors, educators, and the community at large – to join hands towards building an ecosystem that nurtures creativity, fosters collaboration, and empowers artists to push the boundaries of their craft.