As Nigeria celebrates it’s 56th independence anniversary today the mood in the nation is not all merry, and the entertainment industry is not left out of the chaos and recession.
At the moment, ‘recession’ and ‘Buhari economy’ are recklessly thrown around in the country by all and sundry, easily making them the most used words in Nigeria and it’s not even funny.
On the street you can practically ‘touch’ the hardship in the land.
Nollywood film-maker, Elvis Chuks says, ‘Honestly it’s not just the entertainment industry, but other sectors of the Nations Economy but as usual, there will always be light at the end of the tunnel, I believe it’s a Phase and it will surely pass. Let’s just be hopeful and do the best we can. Posterity and Divinity will Handle the Rest. I’m Sure.‘
Not a lot of Nigerians will agree with Elvis Chuks’ positivity and hope.
Never in the history of Nigerian Entertainment industry has a brand dropped as many as 10 superstars from its roaster as MTN did a few weeks ago.
READ: Why MTN dumped Don Jazzy, Davido and others
In a single move, MTN dropped Davido, Don Jazzy, Tiwa Savage, Dr. Sid, Sound Sultan, Banky W, Kcee, Harrysong and others as brand ambassadors all at once, and they’ve not been signed on by other brands which is very weird.
A few years ago, competing brands will be struggling to get the dropped stars on board. Guess the grass is not greener anywhere.
The Nigerian Bureau of Statistics (NBS) in its latest report confirmed that the Nigerian economy officially hit recession with the second quarter GDP.
It is however unclear what the growth rate of the entertainment sector is, as there are no available data due to absence of growth indicators, but the industry practitioners are complaining.
While Solomon Gilala, a fashion designer and entertainment analyst is of the opinion that the recession is in no way affecting the industry. In his words, ‘Recession isn’t affecting entertainment. Though It can affect local business for them because their normal sponsors are loosing business margins, but this is the time when most of our artists are getting shows abroad because it’s cool foreign currency earnings for them‘.
Artiste manager, Sotuminu Olasile says that recession is a mere word because night clubs in Lagos still sell out, ‘I really don’t see recession affecting the entertainment industry. Shows are been held, artists perform regularly and they get paid, some even charge higher fees. Quilox and Escape night clubs are booming, so i think recession is just a word in our heads,‘ he said.
Two nights ago, Nigerian president Muhammadu Buhari invited 300 select young people in the creative industry for an evening of conversations, to share ideas on how to transition the several creative enterprises of today into a viable creative economy.
READ: A night of conversation with the President
At the event, a positive minded Buhari expressed his admiration for the resilience of the Nigerian youth in the face of the adversity they’ve had to contend with, acknowledging that the creative arts has done more for Nigerians more than recent governments had. According to him, ‘You have done Nigeria proud’.
However, the pulse of Nigerians on social media as regards the topic of recession is quite interesting…
You shout Change, wasted our collective time dancing Azonto on the economy, blaming the past and took us to recession. Your name is Buhari!
— Jackson Ude (@jacksonpbn) September 24, 2016
Being a Nigerian presently in this Buhari economy is a great risk, doing nothing about it is the greatest risk of all.
— Felix Onyegbule (@felixonyegbule) September 30, 2016
Nigerians, we need to stop blaming Buhari for all our problems. First , he walked into an already failing economy where the mainstay is un
— Her Excellency (@Simmyie) September 30, 2016
If you want to catch crooks, catch them, but don’t turn Nigeria to a police state. If you do, the result you get is recession!
— Ben Murray-Bruce (@benmurraybruce) September 29, 2016
If there is anything you should not be doing during a recession it is complaining. Recessions bow to solutions not complaints!
— Reno Omokri (@renoomokri) September 27, 2016
Nigeria economy falling like the naira itself,makes me wonder how long we going to survive the recession !!!
— PETER JAGABAN (@kali_piper) September 23, 2016
Nigeria was Titanic
Buhari was the Captain.
Recession was the Iceberg.Please don’t say Buhari had nothing to do with the current economy.
— BABY ELEPHANT (@YvonnEledje) September 22, 2016
There is recession in Nigeria but not on Twitter Nigeria. Our economy remains strong and virile. Even as unemployment dropped to a record 2%
— JJ. Omojuwa (@Omojuwa) September 21, 2016
@jonbellion come to Lagos Nigeria, but please make sure the price is something people can afford, the economy is on recession, thank you
— Wa Yo ming (@deji_onii) September 20, 2016
Me -Jona, I wan to sell national assets to save the economy. Are you still using PDP?
GEJ – baba, you’re very mad. pic.twitter.com/XfJoxy1IJW— Parosident Buhari (@TheMbuhari) September 23, 2016
Buhari came to sink the economy.
Man isn’t leaving till Naira and foolscap sheet are at the same value.— Anyadu (@The_Africanist) September 30, 2016
Buhari is just there destroying our lives with this economy
— Ene (@datuois) September 29, 2016
Not all hope is lost however, and with the right steps taken, the Nigerian economy and entertainment industry can witness good times again soon.