Momoh urges Nigerians to tap into $50b opportunities in media industry

The Chairman, Channels Media Group, John Momoh, has urged Nigerians to fully tap into about $50 billion worth of opportunities in the global broadcast and media industry.

Momoh said this on Wednesday in a keynote address at the 2nd Fate Annual Alumni Conference in Lagos.

Theme of the conference was: “Unlocking the Growth Potential of MSMEs through Partnerships and Innovation.”

Momoh said: “As we know, Nollywood is rising with more talents coming on board.

“More so, we need more channels that are dedicated to carving a niche for themselves in different areas.”

Momoh said the sector has huge opportunities to generate employment and revenues for the nation’s economy, if the potential could be properly harnessed.

He said digitisation would soon open window for more investments in the sector and for channels of programming that would be dedicated to different niches of the country.

Momoh urged the entrepreneurs to focus on strategic partnerships, build trust, leverage on social media and innovations to scale up economic growth.

Also, Adenike Ogunlesi, the Founder, Ruff n Tumble, said for businesses to expand beyond the country, there was the need to build systems, structures and invest in human development.

Ogunlesi urged the entrepreneurs to uphold quality and standards in their quest to solve societal challenges.

In his remarks, Tope Folayan, the Co-Founder, Mall for Africa (an e-commerce platform), urged the Federal Government to upscale capacity building for Micro, Small and Medium Enterprises operators to enable them to compete globally.

Folayan said: ““We partnered with about 50 local MSMEs to leverage on our platform to sell their products on ebay to the global market.

“We intend to spread the opportunity to more local MSMEs provided they meet international standards in their products quality, specification and design.

“This is where government plays a major role in providing avenues for training and positioning these operators to leverage global opportunities.”

In his remarks, Fola Adeola, Founder, Fate Foundation, urged entrepreneurs to be diligent and resilient in the pursuit of their vision and growth of the nation’s economy.