Nigeria is one of the highest consumers of technology products, says Afrinolly boss
The Managing Director/Chief Executive Officer, Afrinolly Creative Hub, Chike Maduegbuna has taken a critical assessment of Nigeria’s economic environment and submitted that Nigeria ranks amongst one of the highest consumers of technology products around the world.
Speaking recently during an exclusive interview with MARKETING EDGE in Lagos, Maduegbuna noted that although the country may lack the know-how to build or develop technology, looking at the technological landscape, Nigeria ranks amongst one of the highest consumers of technology products.
According to the renowned creative industry expert, the country is blessed with energetic youth demography, but because the educational system is not functioning as it should, generations of youths that educate themselves online and become who they are through the YouTube videos they watch are being raised.
“If you say Nigeria’s economy by market, I will say I am very grateful. I can’t have a better market than Nigeria. If you say by regulation and government involvement, we are still too far from that. But then if you also now look at Nigeria from a technology landscape, it is one of the highest consumers of technology products.
“We might not be able to build or to develop it, but we consume it more than those that built it. So to that extent, we have strong youth demography, and because educational system is somewhat not functioning as it should, we are now raising a generation of youths who are actually educating themselves online and becoming what they are by the YouTube videos they watch,” he said.
The company boss who also took critical assessment of the film, fashion, and entertainment industry in Nigeria vis- a-vis advertising and marketing, observed that the creative industry in Nigeria had evolved overtime beyond just being a platform for Corporate Social Responsibility(CSR), but added that there was the increasing need for government and brand custodians to work hand in hand and collaborate with major creative hubs through the public private partnership schemes to develop and grow the creative sector of Nigeria’s economy.
He lamented that unlike the Hollywood and Bollywood, Nollywood remains the only technology based industry where the players were not in firm control of television commercials and, to that extent, were not beneficiaries of television commercials often considered as being an export market.
“I feel bad that our media is not working very well with the industry on the content side. I’ve seen the media almost train up to make the advert and the movie themselves. That’s fine; but then when you come to short format which are less than 5 to 10 minutes, that is where you will find that the market is ballooning. The media houses cannot do that, so what they simply need is to work hand in hand with the hubs to guarantee a content plan so they can actually move their conversation across that content pipeline.
“One of the things that we sported from the technology side is that Nollywood is the only big film industry where the players are not in control of TV commercials. It is not the same in Hollywood and Bollywood; so you have a Nollywood as a media empire, but they are not benefitting from TV commercials because that’s usually an export market,” he explained.
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