Friday, 29 December 2017

Entertainment Records N50bn Cash Transactions In December – Lagos State

The Lagos state government on Thursday revealed that showbiz practioners have made nothing less than N50 billion cash transactions alone in December. This figure, sourced from reports monitored by the state government, is due to the influx of people from neighbouring states and the diaspora who are in the state on holidays and to avail themselves of the entertainment activities holding in the state.

The disclosure was made by the state Commissioner for Information and Strategy, Steve Ayorinde.“Reports monitoring the current trends show multi-billion naira spending in hotel accommodations across the state. "Alcohol and beverage consumption as well as culinary business; visits to resorts, parks, clubs and lounges, live theatre and cinemas; fees for musicians, their handlers and technical staff.

"It also includes ancillary businesses like fashion and clothing, kiddies games and toys, specialised taxis and private security guards that all contribute into the tourism and entertainment sectors.“What this cash enabled December has shown is a massive growth in the creative economy sector in Lagos State.“The entire state is agog, hotels are fully booked from Victoria Island to Ikeja, Epe and Badagry.

There is a renewed sense of fun among the citizens and visitors.“The volume of entertainment content being created for the pleasure of the citizens and media is unprecedented right from the beginning of the month,” Ayorinde said. Ayorinde pointed to the yearly and currently ongoing One Lagos Fiesta as an example of the entertainment value-chain driving the inflow of money into the state.

"This remarkable development is not only in tandem with the vision of the Ambode-led administration to make Lagos the creative nerve-centre in Africa.“It is also to assure corporate sponsors and tourists that the state security and social infrastructure can support the ever growing creative economy landscape.“This government has found a nexus between art and prosperity.

"Part of what we have done with care in the past two and half years is to develop and nurture the entertainment value chain that feeds the creative economy of the state.“We are aware and happy that industries in the creative economy supported more than 500,000 direct, indirect and induced jobs in the past 30 months.

"This cut across music promotion, live entertainment, motion picture, digital media, live theatre and cinemas as well as fashion and culinary businesses. "The night economy has fully returned and every part of the state is feeling the impact of government in terms of participation in the arts, infrastructural development, security and social amenities,” he said.

Share This