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ABSTRACT
Nigeria by way of dependence on this black gold-oil- has experienced rapid economic growth though in an inconsistent manner. This can be attributed to the volatility in the price of crude oil, global economic challenges, technological advances, global shift to renewable energy and the production of shale oil by the United States of America which have all unfolded to detrimentally affect Nigeria’s economic prospects. The overdependence on oil has plunged the Nigerian economy into recession. Therefore, it has become critical to grow the competitiveness of other sectors of the Nigerian economy. The entertainment industry can be the ‘fuel’ required for innovation and economic development if it is utilized to its maximum potential through adequate intellectual property laws, policies as well as its enforcement. The research seeks to examine how the industry can contribute to the diversification of the Nigerian economy, the problems and the role the law plays in the protection of the rights in the entertainment industry. The study would examine the Copyright Act 2022 to determine how adequate it is to enforce and protect the rights in the entertainment industry with regards to the digital age. Using doctrinal-library based research this study found that the Copyrights Act 2022 is expected to strengthen the entertainment industry’s legal framework, foster an equitable environment that supports the rights of all stakeholders, in addition this study found that the copyright enforcement machinery in Nigeria is weak and not adequate and further that the entertainment industry will only have the potential of contributing huge revenue and aid the diversification of the Nigerian economy if the laws are adequately enforced. It is therefore recommended that all enforcement procedures put in place must be fully utilized, the Nigerian Copyright Commission should be well funded for this purpose and the government should not further neglect this critical segment of global economy and should consciously include intellectual property in its economic development policies.
