A ₦1.5 billion fund has been launched to support entrepreneurs in Nigeria's creative industries, targeting fashion, film, music, and digital content.
The Creative Sector Fund is a joint effort by Woodhall Capital, Polaris Bank, the Lagos State Government, and the UK Government. It aims to close the financing gap that has long hindered small businesses and talents in the creative space.
Unveiled at the launch of the Creative Currency podcast in Ikoyi, the fund is expected to provide structured financial support and advisory services, helping creatives scale their operations and formalize their businesses.
Polaris Bank's Executive Director, Abimbola Ozomah, said the fund was a "long-overdue response to the exclusion of creatives from formal finance." He described it as more than just funding—"It reflects our belief in Nigerian creativity as a global force."
Mojisola Hunponu-Wusu, CEO of Woodhall Capital, emphasized that creatives need tailored financial solutions and investor access. "This is about building serious financial infrastructure for an industry that has been underestimated for too long," she said.
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The UK's Deputy High Commissioner, Jonny Baxter, described the fund as a "blueprint for global creative cooperation," noting it builds on the UK-Nigeria Creative Industries Partnership signed in 2024.
Lagos State also reaffirmed its commitment to creatives through the Lagos Creative Fund, which offers interest-free loans up to ₦10 million. Commissioner for Commerce, Mrs. Folashade Ambrose-Medebem, said the state is building policy and infrastructure to position Lagos as Africa's creative capital.
The Creative Currency podcast will serve as a policy and media engagement platform, connecting creatives with legal experts, financiers, and global partners.
Stakeholders at the event urged creatives to professionalize their businesses, track finances, and protect intellectual property to attract investment.
The new fund is expected to unlock jobs, grow exports, and support the formalization of Nigeria's creative economy—one of the country's most promising sectors for youth employment and global influence.
