The economic meltdown in Nigeria occasioned by fall in the price of oil in the international market, corruption and vandalism of oil pipelines by the Niger Delta militants calls for rethink and inward looking on how the monolithic economy being operated in the country can be changed to bring about improvement and economic prosperity. Apart from agriculture, Nigeria is endowed with cultural wealth in terms of arts, crafts and indigenous industries embedded in culture and ecological diversities, which can be harnessed to improve the livelihood of the people and achieve competitive advantage in the international global market. Consequently, this study entitled: “developing indigenous industries through creativity and knowledge society: reinvigorating economy for recovery in Nigeria” is embarked upon. The objectives of the study include: to examine why some indigenous industries' secrets are not revealed to non-initiates/family members; to find out how creativity can be used/included in operating indigenous industries; to discuss measures/strategies to be employed in order to encourage the use of knowledge societies in indigenous industries; to find out how youths could be encouraged to learn and engage in the business of indigenous industries; to determine how floating of indigenous industries can help to reinvigorate economic recovery in Nigeria; and to identify major types of indigenous industries that are viable in the present dispensation. The work employed research design of the survey type. Some operators of indigenous industries were visited in their places of work in selected States in Nigeria. Also, focused group discussion was used; statistical instruments such as frequency count, percentage, and Chi Square were employed to analyse the data collected. All the results were decided at 0.05 level of confidence with appropriate degree of freedom. The findings of the study revealed as follows: that majority of the respondents (81.9%) held that indigenous industries are practiced and restricted within the family who have the knowledge, while 18.1% expressed contrary view; that majority of the respondents (82.2%) opined that secrets behind indigenous industries are not revealed to members of the public to maintain monopoly, while 17.8% felt otherwise; that creativity based on acquired knowledge helps to drive economic development because of increase productivity: 64.3% agreed, while 35.7% disagreed; that most of the respondents (67%) held the view that information on various vocations under indigenous industries should be passed to the next generation in society, while 33% felt differently; there is a significant relationship between youth engagement in learning and involvement in indigenous industries (X2=21.978, df=3, p < 0.05); and there is significant relationship between creativity and operation of indigenous industries(X2=33.222, df=3, p < 0.05). Based on the findings from the study, these recommendations are made: efforts should be made to remove secrecy and monopolistic tendencies found among certain families in indigenous industries to give room for new generations of learners and practitioners for economic prosperity; and the use of creativity in indigenous industries should be encouraged among the practitioners so as to upgrade the industry in line with modern times in order to satisfy the interests of the larger society.