The Nigerian creative industry needs structured investment frameworks, not just capital, to scale and thrive, says Africa Soft Power’s Dr. Nkiru Balonwu
Nigerian creative industry stakeholders gathered in Lagos to spotlight the sector’s immense potential—while sounding the alarm on its most pressing challenge: the absence of scalable and predictable investment frameworks.
Also read: Woodhall Capital champions funding for Nigerian creative industry at Lagos Canvas
Speaking at the conference, Dr. Nkiru Balonwu, Founder of The Africa Soft Power Group, emphasized that lack of funding isn’t the issue—structural financing is.
“The challenge I think is not the lack of capital but the lack of scalable structured investment frameworks,” she said.
“We need financing designed for the messy middle—not just the glamorous headline projects or polished final products.”
Dr. Balonwu noted that Nigeria’s music, film, and fashion industries have earned global acclaim, but at home, the industry is still treated more as a passion project than a profitable venture.
“One Burna Boy or Rema selling out global venues is a cultural victory and a clear market signal,” she said.
“But we haven’t built the local systems needed to replicate that success at scale.”
She called for tiered financing—from early-stage grants and seed capital to long-term patient equity—tailored specifically to the creative lifecycle.
Dr. Balonwu also advocated for critical infrastructure like IP banks, data centers, and domestic distribution networks to strengthen the value chain.
“Our creatives must become institution builders and financially literate entrepreneurs,” she added.
“It’s no longer about platforms alone, but the systems that make them sustainable.”
Another major talking point was Artificial Intelligence (AI). Dr. Balonwu urged creatives to embrace AI as an enabler, not a threat—highlighting the role of technology in scaling storytelling and content development across Africa.
She concluded with a powerful message: isolated success stories—while inspiring—are not enough.
“A few global superstars bring pride, but a thriving, interconnected ecosystem brings wealth.”
Also read: Nigerian film industry archive launches as NFVCB documents Nollywood history
By fostering a supportive environment and structured investment pathways, Nigeria can unlock the true potential of its creative sector—transforming it from a cultural powerhouse to an economic engine for innovation, employment, and growth.
Source: Read more at premiumtimesng.com
