5 months ago
Co Creator: 
24
6
Posted On: June 18th 2026, 09:06 pm
Tagged Users:
Today @makemusiclagos
From Trends to Industry: My Takeaways from Obi Asika’s Music Business Conference Today 🎤
Today I had the privilege of listening to Obi Asika, DG and CEO of the National Council for Arts and Culture, as he shared the real numbers behind Nigerian music.
Key truths he revealed:
1. The revenue is real: Nigeria’s music economy is valued at ₦901.7 billion, about $600M in 2024. Live shows and events alone generate ₦320B. This is no hype — it’s a legitimate industry.
2. The gap is infrastructure, not talent: South Africa earns 2.5 times more than Nigeria despite a smaller market. The difference is publishing, rights collection, venues, and metadata. We have the audience; we need the infrastructure.
3. What we need locally: Establish institutions like a Nigerian Music Business Council, 36 state festivals, proper licensing and sync platforms, and digital hubs. Not a trend. An industry.
After his impactful talk, I had a valuable, fatherly chat with him about music, talent growth, and community building from grassroots to global stages. His passion for local talent matches his vision for the industry.
Personally, I am inspired. I’m ready to prioritise building my career as a music artist — focusing on rights, proper planning, and treating music as a business.
If music is an industry, artists should be CEOs. Let’s build.
About Obi Asika
Obi Asika is a Nigerian entrepreneur, media executive, and cultural leader. He’s the Director-General and CEO of the National Council for Arts and Culture, NCAC. A trailblazer in Nigeria’s entertainment scene, he co-founded Storm 360 and has significantly influenced the modern Afrobeats scene. Beyond business, he advocates for infrastructure, data, and institutions that enable Nigerian creatives to monetise globally. He’s both strategist and mentor — today’s talk proved that.
#MusicBusiness #ObiAsika #NCAC #NigerianMusic #Afrobeats
From Trends to Industry: My Takeaways from Obi Asika’s Music Business Conference Today 🎤
Today I had the privilege of listening to Obi Asika, DG and CEO of the National Council for Arts and Culture, as he shared the real numbers behind Nigerian music.
Key truths he revealed:
1. The revenue is real: Nigeria’s music economy is valued at ₦901.7 billion, about $600M in 2024. Live shows and events alone generate ₦320B. This is no hype — it’s a legitimate industry.
2. The gap is infrastructure, not talent: South Africa earns 2.5 times more than Nigeria despite a smaller market. The difference is publishing, rights collection, venues, and metadata. We have the audience; we need the infrastructure.
3. What we need locally: Establish institutions like a Nigerian Music Business Council, 36 state festivals, proper licensing and sync platforms, and digital hubs. Not a trend. An industry.
After his impactful talk, I had a valuable, fatherly chat with him about music, talent growth, and community building from grassroots to global stages. His passion for local talent matches his vision for the industry.
Personally, I am inspired. I’m ready to prioritise building my career as a music artist — focusing on rights, proper planning, and treating music as a business.
If music is an industry, artists should be CEOs. Let’s build.
About Obi Asika
Obi Asika is a Nigerian entrepreneur, media executive, and cultural leader. He’s the Director-General and CEO of the National Council for Arts and Culture, NCAC. A trailblazer in Nigeria’s entertainment scene, he co-founded Storm 360 and has significantly influenced the modern Afrobeats scene. Beyond business, he advocates for infrastructure, data, and institutions that enable Nigerian creatives to monetise globally. He’s both strategist and mentor — today’s talk proved that.
#MusicBusiness #ObiAsika #NCAC #NigerianMusic #Afrobeats
Comments (6)
More posts
