Small wonder why millions of youth and brands jostle to associate with the BBNaija show annually.
The International Monetary Fund (IMF) in 2017 announced that Nigeria’s creative industry accounted for 2.3 percent, approximately N239 billion, of the nation’s GDP in 2016. This has been re-echoed by Minister of Information, Lai Mohammed at the 61st Tourism conference in Abuja 2019 and the then Minister of State – Industry Trade and Investment, Aisha Abubakar.
Abubakar, while speaking at a Creative Entrepreneurs Summit in 2019, declared that with the pace the Nigeria creative Industry is growing it has the fastest growth rate in the world. We cannot talk about this exponential growth without pointing to the role the Big Brother Naija show is playing, arguably, the biggest television reality show out of Nigeria and Africa right now.
With rising unemployment and a stuttering economy, the creative industry, which forms a major part of the nation’s informal sector, has continued to come to the rescue of Nigerians, putting foods on tables, promoting people from obscurity to stardom and helping many achieve their dreams.
With the dwindling fortune of white-collar jobs, Nigeria’s informal sector accounted for about 65 percent of Nigeria’s 2017 GDP, according to the IMF which also rated Nollywood as the second-biggest employer in Nigeria, engaging over a million persons. It’s evident that over the years millions of Nigerians have been devising ways to help themselves survive through economic hardship without waiting for the government.
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The COVID-19 pandemic has further worsened the situation. Across the world, the fear of mass layoff (already happening) coupled with a possible economic recession predicted by experts is shifting focus to the informal sector and the creative industry is expected to be the receiving port for the influx of many young people in search of greener pasture and economic liberation.
Small wonder why millions of youth and brands jostle to associate with the BBNaija show annually. It is well established from previous editions that has produced stars in movie, music and media, that the show is a major contributor to the growth of the creative industry of the most populous black nation in the world.
But how is MultiChoice Nigeria achieving this?
It may look like a mystery, but the show is beyond the 12 people and the host Ebuka Obi-Uchendu, himself a past contestant, we see on the screen for 99 days. There is more to the show than the contestants – the crew members, brands, small and medium-sized businesses, online vendors and entertainers who visit the house are also huge beneficiaries of the BBNaija show.
At the backstage making the work happen are more than 100 crew members – cameramen, photographers, housekeepers and many others in their hundreds who get paid for making the reality show a true reality.
Ebuka shared a photo in 2019 of about 100 crew members (directly hired) to work behind the scenes to bring the show to viewers. The multiplying effect of this on the economy of a nation cannot be underestimated.
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The show made a remarkable move last year when it gave out a Nigerian made car to Mercy Eke, winner of the 2019 edition. This move earned MultiChoice commendation from many Nigerians and it has further promoted the Innoson made vehicle to other parts of Africa.
Before BBNaija 2019, not so many people knew about a smartphone brand called Oppo, it gained exposure that has translated to an increase in patronage and revenue by joining other brands like Bet9ja, Pepsi, Gulder to sponsor weekly games on the show.
The small and medium sized business owners who are contracted as vendors to supply necessities like food, wearables, cosmetics, toiletries to the house during the show have also seen an exponential growth in their businesses by associating with the show. Many of these businesses run online shops, by exposing their brands on the show to over 40 million viewers across Africa, their hitherto small businesses have received a higher degree of patronage from Nigeria and other African countries.
In October 2019, House of Lunettes, a brand that makes eyeglasses announced that it sold out its products a few hours after Tacha Akhide became its brand ambassador. Such is the power BBNaija wields.
Entertainers and DJs who visit the housemates have also enjoyed a high degree of publicity that has further positioned their brands to the consciousness of not just Nigerians, but millions of Africans.
We may not be able to put a figure to the huge impact of BBNaija on the nation’s economy, it is clear that solving the economy puzzle remains a daunting prospect, which the show alone cannot solve, but it is making a giant step in proffering a solution.
Lai Mohammed said in 2019 that “Our (Nigeria’s) greatest strength lies in our creative industry, music and our films. That is one area we have a comparative advantage over many other countries.”
Over the years, MultiChoice through BBNaija has continued to churn out talent taking over the creative scene – Gideon Okeke, Bisola Aiyeola, Ifu Ennada among many other past contestants have made names in Nollywood. Efe Ejeba winner of the 2017 edition went to pursue a career in music and Miracle Igbokwe through his cash prize in the 2018 edition was able to achieve his long term dream of becoming a pilot, though he didn’t stay in the creative industry like other contestants, BBNaija has helped him fulfil his dream, what more can he ask for?
The likes of Tobi Bakre who has featured in movies and soap operas, Mike Edwards a brand ambassador for Nigeria family of Japanese automotive manufacturers, Mitsubishi; and many others are also making good use of the fame the platform brought to register their names in the creative scene.
Over the years, people have expressed cynical opinions about the show, it is not unexpected, what, in fact cannot be ruled out is that viewers have a real emotional attachment to it, contestants, businesses and individuals attached to it are seeing the impact on their bank statements and their brands.
小孩游泳馆Explore economic research data from Nairametrics on Nairalytics小孩游泳馆
With the dearth of talent harvesting shows and many other reality TV shows that the harsh economy has frustrated to wind up, commendation must be given to MultiChoice Nigeria for weathering the storm and providing a way out of the conundrum to make BBNaija a major contributor to the growth of the creative industry.
July 8, 2020 at 7:33 pm
While appreciating the economic impact of the creative industry on our GDP, attention should be paid on guiding and sensor the industry’s contents in not loose or deviate from its core values by and ensuring that the program will not in anyway, destroy societal values through indecent acts. There is no price that will be tagged to estimate the value of morality in contrast to the damnable effect of indecency.
I hope the authority will take into consideration and act in consonance.
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…shares views on the economy and financial markets.
FBNQuest Funds Limited, the alternative investments subsidiary of FBN Holdings Plc is raising awareness on the opportunity of private equity for portfolio enhancement, in addition to the use of traditional investing assets. This was one of the key messages delivered at a virtual interactive session with financial journalists focusing on the alternative investments/private equity business, the financial markets, and the broader economy.
Ijeoma Agboti, the Managing Director of FBNQuest Funds Limited spoke of the organisation’s focus on developing a broad platform that will provide diversification and return-enhancing products for clients through various alternative asset classes. She stated, “Since we were established in 2003, FBNQuest Funds Limited has deployed in excess of N20 billion in over 70 companies and assets across various portfolios, and we have continued to partner with our portfolio companies to deliver growth, capital and provide value-creation support.”
“We believe in working closely with our clients to deliver solutions that fall within their specific risk tolerance boundaries and meet their overall portfolio objectives.”
On the financial markets and the economy, the FBNQuest research team shared their views on the outlook for the Nigerian economy and public markets. Overall, analysts projected a moderate economic recovery in 2021 for Nigeria as influenced by the COVID-19 pandemic, but also pointed to the undervaluation of several banking and telecom companies as attractive investment opportunities for stock market investors.
“Information drives an investor’s ability to read and monitor the market. We think our research capability sets us apart in the Nigerian market and underpins our value approach to investing in private and public companies. We are delighted to share our views and add value to the socio-economic discourse,’’ stated Tunde Abidoye, Head of Equity Research at FBNQuest.
FBNQuest has been recognized for outstanding transactions delivered, receiving the award for Deal of the Year – Africa – Restructuring, the firm also received three Awards from EMEA Finance for the Best African Sukuk for the FGN ?100bn Sukuk, Best Local Investment Bank (Nigeria) and Best Asset Manager; as well as the FMDQ Gold Award for Most Innovative Registration Member.
小孩游泳馆About FBNQuest 小孩游泳馆
FBNQuest is the unified brand name for the Merchant Banking and Asset Management businesses of FBN Holdings Plc, one of the strongest and most dependable financial service groups in sub-Saharan Africa.
The businesses include FBNQuest Merchant Bank, FBNQuest Asset Management, FBNQuest Securities, FBNQuest Capital, FBNQuest Trustees and FBNQuest Funds.
Whether you are searching for a guide to investing, business financing or advice on the preservation of your wealth, our world-class team will partner with you to understand your needs and deliver a tailored solution.
Globacom-sponsored African Voices Changemakeres will feature two of Africa’s female music sensations.
Nigerian music diva, Tiwa Savage, is guest this week on African Voices Changemakeres,? Globacom-sponsored magazine programme of the Cable News Network (CNN).
The programme will also feature Gambian Kora great, Sona Jobarteh.
Tiwa began her music career doing backup vocals for artistes as George Michael and Mary J. Blige.
Reputed for her blend of Afrobeat,? hip hop and pop, she released her debut studio album Once Upon a Time in 2013. It was supported by seven singles: “Kele Kele Love”, “Love Me (3x)”, “Without My Heart”, “Ife Wa Gbona”, “Folarin”, “Olorun Mi” and “Eminado”. The album was nominated for Best Album of the Year at the 2014 Nigeria Entertainment Awards and for Best R&B/Pop Album at The Headies 2014.
Tiwa won Best African Act at the 2018 MTV Europe Music Awards, becoming the first woman to win in that category. She won the Best Female West Africa Award in 2017 and 2018 and the Soundcity MVP Award for African Video of the Year in 2020, among others.
She has an interest in youth empowerment and breast cancer screening projects and has raised funds to build schools in Nigeria.
The second guest on the programme,? Jobarteh, is a multi-instrumentalist who plays the cello, guitar and traditional kora which is a 21-stringed harp-like instrument. She is also a composer.
Born in 1983, Jobarteh is the first female professional kora player to come from a? family of celebrated griots. She attended the Royal College of Music in the United Kingdom where she studied cello, piano and harpsichord. She also went to the Purcell School of Music, England, to study Composition.
Her debut album was Afro-Acoustic Soul which contained songs about bittersweet love and social themes.
The programme airs on Saturday DSTV channel 401 at? 5.30 p.m. and is repeated on? Sunday at 4.30 a.m., 7.30 a.m.,12.30 p.m. and? 6.30 p.m. and on Monday at 5.30 a.m.
The Bank’s voice banking service, “Super App” allows customers to bank as quickly as they speak.
Who would have imagined the possibilities of directly speaking to your phone to carry out banking transactions or a situation where phone numbers will be used as account numbers?
Through constant innovation and reinvention, customer-centric financial institution, Stanbic IBTC continues to use digitisation to simplify banking and transform the customer experience.
Just recently, the organisation ushered customers into a world of endless possibilities with an upgraded mobile app, tagged “Super App”. Talk about banking with convenience, speed, simplicity, versatility, improvements and you would be perfectly describing the Stanbic IBTC newly upgraded Super App.
The integration of an automated voice banking service on the unique and superlative “Super App” allows customers to bank as quickly as they speak. Basic transactions can be performed by speaking directly to your mobile phone with the help of a ‘voice and tap’ personalised assistant available on the App.
Using speech recognition to make operations easier and faster, the voice control feature allows customers to multitask while the voice search feature improves the ability to easily find information on the App.
The “Super App,” best described to function as a “machine” includes My Bank and @easewallet features that both account holders and non-account holders of Stanbic IBTC can use to transfer funds.
The My Bank module of the Super App makes it possible to transfer funds to a single as well as multiple beneficiaries. My Bank erases the need for middlemen and agents when customers need to pay for PAYE, withholding tax and other utilities such as cable TV subscription and electricity bills.
You can also use My Bank on the Stanbic IBTC Super App to get airtime top-up, make cardless withdrawals from an ATM, schedule payments and load a prepaid card.
The special ‘Hide Account Balance’ feature on My Bank allows customers to hide their account balance, especially when in public or insecure environments.
Similarly, the Super App contains the @easewallet feature which guarantees fast, versatile and secure financial transactions. @easewallet is an electronic wallet that allows customers to generate paycode to seamlessly withdraw cash from their accounts using an ATM or from any agent without a credit or debit card. This paycode can be securely and conveniently generated using the customer’s registered phone number.
The @easewallet feature on the Stanbic IBTC Super App also allows customers to make fund transfers, pay bills, purchase airtime, activate @easewallet card and open account for others. To use this amazing feature, customers need the last ten digits of their phone number without the first zero as the account number, allowing them to personalise and easily recall it when required.
Apart from the customer’s profile being linked to the mobile device used during sign-up to ensure maximum security, the @easewallet is also protected by a four-digit secret pin which is needed to log-in and authenticate all transactions on the App.
To further secure your account, the ‘self-onboarding’ capabilities on the Stanbic IBTC Super App only grants full access into the App using a debit card details and partial access when only the account number is used.
To experience the Stanbic IBTC Super App, download on Google Play store for Android phones and App Store for iOS phones or from the Stanbic IBTC website. Existing Stanbic IBTC customers with their internet banking login credentials can register with the same on the Super App while non-internet banking users can use their debit card details to register.
The Stanbic IBTC newly upgraded mobile app is indeed SUPER!
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