Impact of Arts on Economic Development: The Nigeria Experience

No serious minded economic policy formulators and administrators at modern times can afford to undermine education, art education, internal economic structure (micro economy), the arts and the need for diversification. Before the emergence of oil and gas exploration in Nigeria, subsistent farming, export of agricultural produce and multiplicity of human engagements such as crafts have sustained the economy of the Nigerian past. Today, the economy is still domiciled at the frontiers of oil and gas, this situation has caused enormous challenges to the Nigerian nation. Results of researches have been published, economic summits have been conducted in order to call attention to successive governments and the private (business) sector in the economy by Professional groups, individuals, academics, economists and journalists alike; the need for diversification and the strengthening of other sectors to revitalise the whole system in conformity with the needed economic development. This paper is therefore designed to review literature on economy and the arts, analyse the importance of arts, education and economy, the role of studio arts on economic development, the impact of aesthetics on commodities. In order to achieve this, institutional libraries, the print and electronic media were consulted, artists were interviewed and participatory observant capacity was assumed. Conclusively, the paper is of the view, Nigeria possesses enormous human resources, talented and artistic man power; what the country needs is viable and consistent educational programmes and the strengthening of the arts both the institutional and its practice