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Nigeria: Media and Entertainment to hit $15bn by 2025

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Nigeria: Media and Entertainment to hit $15bn by 2025

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A report from consultants at PwC forecasts that the fast-growing industry will earn $14.8bn in 2025, up from its current revenue of $7.7bn, riding on an 85% growth of its internet access segment.

As Covid-19 cases steadily rose in Nigeria and the government enforced a nationwide lockdown, the economy shrank by 1.8%, plunging the country into its second recession in five years. The music industry was not spared. Nightclubs and bars were closed, while festivals and music concerts got cancelled; but the internet came to the rescue.

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