Nigeria’s creative industries have secured a significant financial lifeline with the launch of a N1.5 billion Creative Sector Fund, designed to bridge the long-standing financing gap that has limited growth in fashion, film, music, and digital content sectors.
The fund, established through a partnership between Woodhall Capital, Polaris Bank, Lagos State Government, and the UK Government, addresses critical infrastructure needs in an industry that has been systematically excluded from traditional financing systems. The initiative builds on earlier successes, including Polaris Bank’s N1 billion LSETF partnership in 2022 that supported artisans and small businesses across Lagos State.
According to recent economic data, Nigeria’s creative economy contributes approximately 2.3 percent to the country’s GDP, generating over $5 billion annually and employing millions of young Africans. However, access to structured financing has remained a persistent challenge, limiting the sector’s potential for exponential growth.
“This fund represents more than capital,” said Polaris Bank’s Executive Director, Abimbola Ozomah. “It reflects our belief in Nigerian creativity as a global force. We’re not just exporting talent. We’re exporting ownership, structure, and long-term value.”
The Creative Currency Podcast, launched alongside the fund, will serve as a policy engagement platform connecting creatives with financiers, legal experts, and international partners. This multimedia approach aims to reshape conversations around creative entrepreneurship while providing practical business development support.
Lagos State Government has reinforced its commitment to the sector through zero-interest loans of up to N10 million via the Lagos Creative Fund, complementing progressive policy reforms and infrastructure development initiatives.
“This is about building serious financial infrastructure for an industry that has been underestimated for far too long,” said Mojisola Hunponu-Wusu, Founder and CEO of Woodhall Capital.
The UK Government’s participation reflects the broader international recognition of Nigeria’s creative potential, with the UK-Nigeria Creative Industries Partnership signed in 2024 serving as a framework for continued cooperation.
Industry stakeholders emphasized that the fund’s success will depend on creatives formalizing their operations, tracking finances, and protecting intellectual property to attract serious long-term investment.
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