Abstract

The decline in Nigeria economy compared to other emerging African states has been traced to its overdependence on a monotonous source of development. In spite of the huge amount of foreign exchange derived mainly from oil and gas resources, the challenge of actualizing an improved and sustained economy heightens as the downturn in oil and gas sector continues. The potential role of art in the present day Nigerian economy calls for a critical examination as the nation economy needs to be diversified from crude oil source. This review analyses several indices on the recent boom in the visual art sector and its implication for the present day Nigeria economy.