The creative industry in Nigeria has the potential to drive growth, innovation, and employment, but it lacks scalable and predictable investment frameworks, according to Dr. Nkiru Balonwu, Founder of The Africa Soft Power Group.

Stakeholders Convene to Explore Industry Growth

Dr. Balonwu revealed this at a conference in Lagos where creatives, investors, content creators, and the press met to discuss the growth of the industry.

Dr. Balonwu Identifies the Real Challenge

“The challenge I think is not the lack of capital but the lack of scalable structure investment frameworks that the industry needs.

We need financing designed for the messy middle, not just the glamorous headline projects or the polished final product.” She said.

Global Recognition Highlights Local Gaps

Dr. Balonwu noted that while Nigerian creatives have made a mark on the global stage, with music, film, and design dominating international charts and platforms.

Also, she added that the industry is often treated as a hobby rather than a serious business venture at home.

“We celebrate global success, but we haven’t yet built the local system to replicate that success at scale.

One Burna Boy or Rema selling out iconic global venues is a cultural victory and a clear market signal.

But we are falling short in connecting the dots by not translating the undeniable success into a compelling business case for the Nigerian creative ecosystem.”

Structured Financing and Infrastructure Remain Essential

Dr. Balonwu emphasized the need for tiered financing that spans early-stage grants, seed capital, and patient equity, all tailored to the creative lifecycle.

She also stressed the importance of building infrastructure that supports the industry, such as IP banks, data centers, and domestic distribution networks.

“It’s time for our creatives to see themselves not just as artists, but as business people, institution builders, and financially literate architects of enterprise.

The question is no longer just how we build great platforms, but what are the structures that make a platform sustainable in Nigeria?”

Artificial Intelligence Offers a New Frontier

Dr. Balonwu also highlighted the impact of Artificial Intelligence (AI) on the industry, urging creatives to see it as an enabler, not a threat.

“Our creative industry will not and cannot achieve its full potential through isolated success stories.

A few global superstars are a source of national pride, but a thriving, interconnected ecosystem is a source of national wealth.”

A Supportive Ecosystem Is the Way Forward

By building a supportive ecosystem and providing scalable investment frameworks, Nigeria can unlock the full potential of its creative industry and drive growth, innovation, and employment.