The federal government is positioning the country’s carnival industry to tap from the global carnival market, estimated at $5 billion.

Vice-President Kashim Shettima said this on Wednesday during a meeting with a delegation from the Abuja International Carnival at the Presidential Villa.

Mr Shettima noted that beyond promoting the nation’s rich cultural heritage, the Nigerian carnival industry also has enormous potential to drive national unity and cohesion and empower the youths.

The vice president also underscored the immense potential of the $5 billion global carnival market to assist in Nigeria’s economic growth agenda.

”The value of the global carnival market is estimated at $5 billion. This underscores its potential to assist us in our economic growth agenda.

“Beyond promoting our rich cultural heritage, It is a driver for national unity and cohesion. We also have to look at the potential for economic value addition,” he said.

Mr Shettima pledged the support of President Bola Tinubu’s administration to youth enterprises in the creative industry.

He pointed to the success of major carnival events worldwide, such as the Rio de Janeiro Carnival, which he said attracts as many as 200 million visitors annually.

Mr Shettima also cited an example of the Calabar Carnival, which has become intertwined with the cultural heritage of the Efik/Ibibio people.

”The Abuja carnival used to be an even bigger event. I urge you to fast-track all efforts toward holding this event,” VP Shettima charged the Abuja International Carnival delegation.

He also highlighted the government’s Investment in Digital and Creative Enterprises (iDICE) project, a $618 million initiative to support the digital and creative industries, including the carnival sector.

Earlier, chief executive officer of the Abuja International Carnival, Kehinde Adegbite, expressed gratitude for the vice president’s support.

He outlined plans to partner with the Ministry of Art, Culture and the Creative Economy to revitalise the carnival.

“We met with the Minister of Art, Culture, and the Creative Economy, Hannatu Musawa, who is creative-driven and agreed that we partner with the ministry for the project.

”The carnival brings unity, empowers the youths, and helps discover talents,” he said.

(NAN)