WorldStage Nigeria’s Macroeconomic Outlook 2026– Demand and Trade Dynamics: Nigeria’s media sector in 2026 is looking promising, driven by rapid digital adoption and a youthful population.
The entertainment and media (E&M) industry is projected to generate $4.9 billion in revenues in 2026, up from $4.5 billion in 2025.
Digital platforms have reshaped media consumption. With streaming services, online video, and social media-driven content creation expanding rapidly, OTT video revenues are expected to rise from $33 million in 2025 to $37 million in 2026. Music, radio, and podcast revenues are projected to increase from $67 million to $73 million.
Internet advertising is also experiencing high growth, driven by digital marketing and social media advertising.
Investment and Funding
The Federal Government has announced plans to launch two new investment funds under the Investment in Digital and Creative Enterprises (iDICE) programme. They will target technology and creative startups, including media. The iDICE programme is valued at $617 million, backed by the African Development Bank, Islamic Development Bank, and French Development Agency.
A Creative Sector Fund, also part of iDICE, will invest in startups within the creative industry, including media.
The Fund of Funds aims to channel resources into smaller investment funds supporting tech and creative enterprises.
So far, Ventures Platform’s Fund II has secured $64 million in its first funding round, with institutional investors like the International Finance Corporation, Standard Bank of South Africa, and British International Investment (BII) joining as partners.
The Creative Economy Development Fund (CEDF) provides capital injection for businesses in sectors like film, music, fashion, art, publishing, gaming, and cultural tourism.
Government Reforms
Some reforms aim to promote a more regulated and innovative media sector have been introduced by government. They will balance freedom of expression with consumer protection and online safety.
National Broadcasting Commission (NBC) Act Review tops the reforms agenda to boost the media sector in 2026. Digital Economy and E-Governance Bill is also on the card. It aims to establish a foundational statute for digital regulation, empowering regulators to oversee algorithms, digital platforms, data governance, and digital identity systems.
The National Telecommunications Commission (NCC) is reviewing the National Telecommunications Policy to accommodate online safety. It plans to deepen internet exchange protocols, and provide clearer policy direction on content moderation.
The Nigeria Data Protection Act (NDPA) is being enforced. It is imposing clear requirements on data controllers and processors, especially for personal and cross-border data. Nigeria is also expanding digital skills initiatives, including the National Digital Literacy Framework, targeting 95 percent digital literacy by 2030.
Challenges
The sector is still facing infrastructure constraints, including broadband gaps and power supply challenges while piracy and copyright infringement issues are impacting revenue generation.
*Extract from WorldStage Nigeria’s Macroeconomic Outlook 2026.
