Nigeria’s booming Afrobeats industry risks losing the economic value of its global success unless the country fixes deep structural problems around ownership, contracts, education and royalties, industry experts have warned.
Speaking at BusinessDay’s Creative Entertainment Summit 2026, at the panel session themed ‘Fixing the system – Transparency, IP, Policy & Structural gaps in the music industry’, experts said the future of the industry depends on building stronger systems that protect creators and ensure value remains within the ecosystem.
Experts agreed that while Afrobeats has achieved global recognition, the next phase of growth will depend on building transparent ownership structures, stronger contracts, better data systems and policies that allow creators and the Nigerian economy to benefit from the industry’s global influence.
Joey Akan, creator of Afrobeats Intelligence and The Joey Akan Experience, said the biggest challenge facing the music industry is its structure, arguing that the ecosystem requires a complete overhaul.
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