₦1.5 Billion Creative Sector Fund Launched to Boost Nigeria’s Creative Economy

 

L-R- Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu, Founder/CEO, Woodhall Capital; Sola Carrena, MD/CEO, Helios Investment; Onyinyechi Aderigbigbe, Head, Brands & Marketing, Woodhall Capital; Jonny Baxter, British Deputy High Commissioner at the signing ceremony of the N1.5bn Creative Sector Fund & Launch of the Creative Currency Podcast at the weekend, Lagos

₦1.5 Billion Creative Sector Fund Launched to Boost Nigeria’s Creative Economy

Lagos, Nigeria – July 2025 — In a bold move to reshape the future of Nigeria’s creative landscape, Woodhall Capital, in partnership with Polaris Bank, the Lagos State Government, and the United Kingdom Government, has launched a ₦1.5 billion Creative Sector Fund to provide structured financing for entrepreneurs in fashion, film, music, and digital content.

The fund was officially unveiled during the launch of the Creative Currency Podcast, a new platform designed to connect creatives with financiers, policymakers, and global stakeholders. More than just a podcast, the platform aims to serve as a policy engagement hub focused on tackling key industry challenges such as limited access to finance, weak intellectual property (IP) enforcement, and the lack of scalable business infrastructure.

Held at the Ikoyi residence of the British Deputy High Commissioner, the launch event drew prominent figures from government, finance, and the creative industry. Polaris Bank’s Executive Director, Abimbola Ozomah, who spoke at the event, described the fund as a long-overdue intervention to address the historical exclusion of creatives from formal financial systems.

“This fund represents more than capital—it reflects our belief in Nigerian creativity as a global force,” Ozomah said. “We’re not just exporting talent anymore. We’re exporting ownership, structure, and long-term value.”

Mojisola Hunponu-Wusu, Founder and CEO of Woodhall Capital, reaffirmed the company's commitment to offering bespoke financial solutions and investor-matching services specifically designed for creative micro, small, and medium enterprises (MSMEs). “It’s time to redefine how the financial system interacts with the creative sector,” she said.

The UK Government, represented by British Deputy High Commissioner Mr. Jonny Baxter, praised the initiative as a model for global collaboration in the creative space. He referenced the 2024 UK-Nigeria Creative Industries Partnership as a key milestone in fostering bilateral trade and investment in the sector.

Lagos State also reiterated its role as a key enabler of the initiative. Representing Governor Babajide Sanwo-Olu, the Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, highlighted the government’s ongoing support for the creative economy through progressive policies, infrastructure development, and zero-interest loans of up to ₦10 million via the Lagos Creative Fund.

She noted, “We are intentional about cementing Lagos as Africa’s creative capital. With the right support systems, creatives can scale operations, access new markets, and formalize their businesses.”

The Creative Currency Podcast was unveiled as more than a media project. It aims to be a knowledge-sharing ecosystem that brings together local creatives, international investors, legal professionals, and cultural influencers to drive sustainable growth in the sector.

Throughout the panel discussions, stakeholders emphasized the urgent need for structure, professionalism, and transparency in the industry. Creatives were encouraged to develop solid business plans, maintain proper financial documentation, and assert their rights to royalties and intellectual property protection.

Financial institutions also acknowledged the need to update traditional lending models to suit the unique characteristics of creative enterprises—many of which depend on intangible assets, flexible revenue streams, and global market opportunities.

The event concluded with a unified call to action: to invest not just in creative outputs, but in the systems and structures that support them. Stakeholders agreed that with the right investment and collaboration, Nigeria’s creative economy has the potential to generate jobs, drive exports, and secure global influence.

Polaris Bank has continued to expand its footprint in MSME financing, with billions of naira in loans disbursed to support micro, small, and medium businesses across the country.