28/07/2026
Nigeria’s rich cultural heritage is one of our greatest national assets, with immense potential to contribute to economic growth, tourism, and the creative economy. Recognising this potential, the Federal Ministry of Art, Culture, Tourism and the Creative Economy, in partnership with the Ministry of Finance Incorporated (MOFI) Ministry of Finance Incorporated , embarked on the Cultural Assets Monetisation Project, following the Memorandum of Understanding signed by both organisations last year, to identify, document, and unlock the value of Nigeria’s cultural assets.
Following the successful completion of Phase 1, which saw the identification, verification, and cataloguing of 2,102 tangible cultural assets, MOFI have formally presented the Cultural Assets Register and Catalogue to the Honourable Minister.
As we move into Phase 2, the focus will be on formal valuation and establishing the appropriate legal framework to strengthen the management and unlock the economic potential of these assets, while preserving their cultural significance for generations to come.
This initiative aligns with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu Asiwaju Bola Ahmed Tinubu GCFR , particularly the commitment to economic diversification and the development of new pathways for sustainable growth. It also reflects the vision behind the establishment of our Ministry, to harness the immense potential of arts, culture, tourism, and the creative economy as drivers of national development.
The Ministry appreciates the dedication and hard work of the teams from both FMACTCE and MOFI who have contributed to this milestone. As we progress towards the next phase, we remain committed to building a sustainable framework that preserves our heritage while creating greater value and opportunities for Nigeria.