Chief Executive Officer of Nigeria’s foremost entertainment industry equipment deployment company, Mobile Screens and Sound Limited (MSSL), Tunbosun Kola-Daisi, has revealed that the entertainment industry in the country will in the next 10 years, overtake the oil and gas industry, and agriculture in contribution to the nation’s GDP.
Kola-Daisi who made this revelation during MSSL’s 10th Anniversary Media Chat, in Lagos, based his projection on the astronomical growth recorded by the industry in the last 10 years.
Nigeria’s entertainment industry is currently estimated to be contributing 1.4 per cent of GDP, next to oil. It is also estimated to have grown by 19.3per cent in 2014 to reach US$4 billion. By 2019, the market is estimated to be more than twice as big, with estimated total revenue of US$8.1 billion.
Describing the Nigerian entertainment industry as, “A gold mine waiting to be tapped,” Kola-Daisi noted, “I see the Nigerian entertainment industry becoming as globally competitive as the United States and our content will be fully global if properly harnessed.”
“With the quantum of untapped raw talent and potentials that abound in this country, Nigeria’s entertainment industry will overtake oil and gas industry, and agriculture in contribution to the nation’s GDP; and become the dominant employer of labour, creating perceptive entrepreneurs, cultural ambassadors, and global brands,” he stated.
Rating Nigeria’s entertainment industry as biggest in Africa, with Nollywood, Nigeria’s budding film industry, as second in the global film markets in terms of volume of production, and third, behind India’s Bollywood and America’s Hollywood in revenue, he noted however, that Nigeria’s entertainment industry is still at its budding stage saddled with low quality in terms of production and deployment of equipment. This he said would record huge improvement with adequate training, adequate funding and appropriate deployment of equipment.
Speaking on his company’s plan to build a basic entertainment equipment plant in the country he noted that having been in the business of leasing, installation and maintenance of audio/visual equipment for 10 years, he was aware of the great vacuum that existed in the industry especially in the areas of quality production and equipment deployment.
He stated that “Apart from assembling basic entertainment equipment locally, the plant when established would offer free training to young school leavers in the areas of equipment assembling and deployment; and music and movie production.”
This, he said, would be his company’s way of carrying out its social responsibility; reducing youth unemployment, and harnessing the raw skills that are lying untapped in Nigeria.
Mobile Screens and Sound Limited specialises in the sales and leasing of entertainment equipment. As sole representatives of the manufacturers, ADI in UK, it has within the 10 years of operation in the Nigerian market brought to bear its range of LED screens and comprehensive sound equipment in social and political events, product launch, award ceremonies, and corporate events, advertisements, sporting activities, concerts, festivals and religious events.